https://www.taxtmi.com/caselaws?id=297512 The Tribunal found the Corporate Debtor liable for the financial debt claimed by the Petitioner due to default in loan repayment as a co-borrower/pledgee. Pledging shares was considered a financial debt under the Insolvency and Bankruptcy Code, with the invocation of the pledge not reducing the debt. Consequently, the Corporate Insolvency Resolution Process was initiated against the Corporate Debtor, appointing an Interim Resolution Professional to manage the proceedings. en-us Fri, 19 Feb 2021 00:00:00 +0530 Wed, 08 Sep 2021 08:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297512 The Tribunal found the Corporate Debtor liable for the financial debt claimed by the Petitioner due to default in loan repayment as a co-borrower/pledgee. Pledging shares was considered a financial debt under the Insolvency and Bankruptcy Code, with the invocation of the pledge not reducing the debt. Consequently, the Corporate Insolvency Resolution Process was initiated against the Corporate Debtor, appointing an Interim Resolution Professional to manage the proceedings. Case-Laws Insolvency and Bankruptcy Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297512