https://www.taxtmi.com/caselaws?id=297094 The application under Section 9 of the Insolvency and Bankruptcy Code against multiple debtors was rejected by the Tribunal. The application was deemed not maintainable as it was filed against more than one debtor, contrary to the requirement of lodging it against a single Corporate Debtor. Additionally, the Tribunal found that Part-II of the Code, which deals with corporate persons, was not applicable to the individuals described as directors and authorized signatories of a company. The dispute regarding the outstanding amount and settlement, coupled with the applicant's failure to prove the claimed debt, led to the rejection of the application. en-us Mon, 18 Dec 2017 00:00:00 +0530 Thu, 19 Aug 2021 04:50:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297094 The application under Section 9 of the Insolvency and Bankruptcy Code against multiple debtors was rejected by the Tribunal. The application was deemed not maintainable as it was filed against more than one debtor, contrary to the requirement of lodging it against a single Corporate Debtor. Additionally, the Tribunal found that Part-II of the Code, which deals with corporate persons, was not applicable to the individuals described as directors and authorized signatories of a company. The dispute regarding the outstanding amount and settlement, coupled with the applicant's failure to prove the claimed debt, led to the rejection of the application. Case-Laws Insolvency and Bankruptcy Mon, 18 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297094