https://www.taxtmi.com/caselaws?id=410440 The Tribunal dismissed the petition for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, as the Financial Creditor, a single allottee, did not meet the required threshold under the amended provisions of the Insolvency and Bankruptcy Code (IBC). The Tribunal suggested that the Financial Creditor seek recourse under the Real Estate Regulation Act (RERA) due to the nature of the agreement and the Financial Creditor's status as an allottee in the real estate project. en-us Fri, 16 Jul 2021 00:00:00 +0530 Mon, 02 Aug 2021 09:03:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410440 The Tribunal dismissed the petition for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, as the Financial Creditor, a single allottee, did not meet the required threshold under the amended provisions of the Insolvency and Bankruptcy Code (IBC). The Tribunal suggested that the Financial Creditor seek recourse under the Real Estate Regulation Act (RERA) due to the nature of the agreement and the Financial Creditor's status as an allottee in the real estate project. Case-Laws Insolvency and Bankruptcy Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410440