https://www.taxtmi.com/caselaws?id=407546 The Tribunal dismissed the application under section 9 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process. The applicant, claiming to be an operational creditor, failed to establish their entitlement as creditors of the corporate debtor. The Tribunal found that the applicant, as erstwhile directors/shareholders of a dissolved company, lacked standing to file the application. Additionally, the invoices submitted were deemed false and fabricated. The Tribunal concluded that the applicants were not creditors of the corporate debtor and therefore not entitled to file the application, leading to the dismissal of the petition. en-us Tue, 13 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 08:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407546 The Tribunal dismissed the application under section 9 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process. The applicant, claiming to be an operational creditor, failed to establish their entitlement as creditors of the corporate debtor. The Tribunal found that the applicant, as erstwhile directors/shareholders of a dissolved company, lacked standing to file the application. Additionally, the invoices submitted were deemed false and fabricated. The Tribunal concluded that the applicants were not creditors of the corporate debtor and therefore not entitled to file the application, leading to the dismissal of the petition. Case-Laws Insolvency and Bankruptcy Tue, 13 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407546