https://www.taxtmi.com/caselaws?id=414825 The Tribunal found the petition maintainable under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the interest-bearing deposit paid to the Corporate Debtor was classified as a "Financial Debt" under Section 5(8)(f) of the Code. The Tribunal directed the initiation of the Corporate Insolvency Resolution process, with further proceedings scheduled. The decision emphasized that it did not prejudge the case's merits and allowed the Corporate Debtor to present its defense in subsequent hearings. en-us Mon, 11 Oct 2021 00:00:00 +0530 Thu, 18 Nov 2021 07:19:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414825 The Tribunal found the petition maintainable under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the interest-bearing deposit paid to the Corporate Debtor was classified as a "Financial Debt" under Section 5(8)(f) of the Code. The Tribunal directed the initiation of the Corporate Insolvency Resolution process, with further proceedings scheduled. The decision emphasized that it did not prejudge the case's merits and allowed the Corporate Debtor to present its defense in subsequent hearings. Case-Laws Insolvency and Bankruptcy Mon, 11 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414825