https://www.taxtmi.com/caselaws?id=415390 The Tribunal rejected the Financial Creditor's application for Corporate Insolvency Resolution Process (CIRP) against AKJ Fincap Limited, a Corporate Guarantor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The rejection was based on non-compliance with specific rules for Financial Service Providers and the asset size requirement, as the Corporate Guarantor's assets fell below the stipulated threshold of Rs. 500 crores for eligibility. The order emphasized that the rejection does not preclude the Financial Creditor from seeking alternative recourse through other appropriate channels. en-us Tue, 30 Nov 2021 00:00:00 +0530 Sat, 04 Dec 2021 08:44:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415390 The Tribunal rejected the Financial Creditor's application for Corporate Insolvency Resolution Process (CIRP) against AKJ Fincap Limited, a Corporate Guarantor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. The rejection was based on non-compliance with specific rules for Financial Service Providers and the asset size requirement, as the Corporate Guarantor's assets fell below the stipulated threshold of Rs. 500 crores for eligibility. The order emphasized that the rejection does not preclude the Financial Creditor from seeking alternative recourse through other appropriate channels. Case-Laws Insolvency and Bankruptcy Tue, 30 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415390