https://www.taxtmi.com/caselaws?id=409714 The Tribunal rejected the application under section 60(5) of the Insolvency and Bankruptcy Code, 2016, finding in favor of the Resolution Professional's classification of the Applicant as an unsecured financial creditor. The decision was based on the lack of documentary evidence of security interest and non-registration of the alleged properties as security, aligning with the Code's principles and established judicial precedents. The rejection was communicated to the parties and forwarded to the IBBI for record-keeping, concluding the matter. en-us Thu, 01 Jul 2021 00:00:00 +0530 Thu, 15 Jul 2021 08:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409714 The Tribunal rejected the application under section 60(5) of the Insolvency and Bankruptcy Code, 2016, finding in favor of the Resolution Professional's classification of the Applicant as an unsecured financial creditor. The decision was based on the lack of documentary evidence of security interest and non-registration of the alleged properties as security, aligning with the Code's principles and established judicial precedents. The rejection was communicated to the parties and forwarded to the IBBI for record-keeping, concluding the matter. Case-Laws Insolvency and Bankruptcy Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409714