https://www.taxtmi.com/caselaws?id=298818 The Tribunal dismissed the application, ruling that the Applicants were related parties and not Financial Creditors. Their investments were for acquiring shares, not financial debt. The CoC meeting minutes were upheld, and the ongoing forensic audit was deemed sufficient. The Tribunal emphasized adherence to the definitions and provisions of the IBC regarding related parties and financial creditors. en-us Thu, 03 Dec 2020 00:00:00 +0530 Sun, 21 Nov 2021 19:20:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298818 The Tribunal dismissed the application, ruling that the Applicants were related parties and not Financial Creditors. Their investments were for acquiring shares, not financial debt. The CoC meeting minutes were upheld, and the ongoing forensic audit was deemed sufficient. The Tribunal emphasized adherence to the definitions and provisions of the IBC regarding related parties and financial creditors. Case-Laws Insolvency and Bankruptcy Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298818