https://www.taxtmi.com/caselaws?id=416142 Axis Bank's appeal to be recognized as a 'secured financial creditor' or 'financial creditor' of the corporate debtor was dismissed by the tribunal. The loans provided by Axis Bank to home buyers did not qualify it as a creditor to the corporate debtor. The tribunal highlighted the necessity of registering charges and specific definitions under the Insolvency and Bankruptcy Code, 2016. The tribunal upheld the adjudicating authority's decision, emphasizing that Axis Bank's claim lacked merit due to the absence of a direct relationship with the corporate debtor. The appeal was dismissed with no order as to costs. en-us Mon, 20 Dec 2021 00:00:00 +0530 Wed, 22 Dec 2021 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416142 Axis Bank's appeal to be recognized as a 'secured financial creditor' or 'financial creditor' of the corporate debtor was dismissed by the tribunal. The loans provided by Axis Bank to home buyers did not qualify it as a creditor to the corporate debtor. The tribunal highlighted the necessity of registering charges and specific definitions under the Insolvency and Bankruptcy Code, 2016. The tribunal upheld the adjudicating authority's decision, emphasizing that Axis Bank's claim lacked merit due to the absence of a direct relationship with the corporate debtor. The appeal was dismissed with no order as to costs. Case-Laws Insolvency and Bankruptcy Mon, 20 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416142