https://www.taxtmi.com/caselaws?id=415389 The Tribunal held that GVFL Trustee Company Pvt Ltd did not qualify as a Financial Creditor under the IBC 2016 as it was a shareholder, not a lender. The debt claimed by GVFL was not considered a Financial Debt under the IBC 2016 as it was an investment in shares, not a loan. The Section 7 Petition filed by GVFL against Hubtown Limited was deemed not maintainable as the rights exercised were typical shareholder rights, not those of a Financial Creditor. Consequently, the Tribunal dismissed the Company Petitions filed by GVFL under Section 7 of the IBC as not maintainable. en-us Mon, 29 Nov 2021 00:00:00 +0530 Sat, 04 Dec 2021 08:44:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415389 The Tribunal held that GVFL Trustee Company Pvt Ltd did not qualify as a Financial Creditor under the IBC 2016 as it was a shareholder, not a lender. The debt claimed by GVFL was not considered a Financial Debt under the IBC 2016 as it was an investment in shares, not a loan. The Section 7 Petition filed by GVFL against Hubtown Limited was deemed not maintainable as the rights exercised were typical shareholder rights, not those of a Financial Creditor. Consequently, the Tribunal dismissed the Company Petitions filed by GVFL under Section 7 of the IBC as not maintainable. Case-Laws Insolvency and Bankruptcy Mon, 29 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415389