https://www.taxtmi.com/caselaws?id=300016 The National Company Law Tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 by an infrastructure allottee against a Corporate Debtor. The Tribunal upheld the allottee's classification as a Financial Creditor, despite arguments to the contrary. It was determined that there was an unpaid debt owed by the Corporate Debtor to the allottee at the time of application admission, making the application valid. A group of allottees facing similar issues also applied as Resolution Applicants, but their Resolution Plan was pending consideration. The Tribunal dismissed the appeal challenging the admission order without costs. en-us Thu, 28 Feb 2019 00:00:00 +0530 Sat, 08 Jan 2022 09:46:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300016 The National Company Law Tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 by an infrastructure allottee against a Corporate Debtor. The Tribunal upheld the allottee's classification as a Financial Creditor, despite arguments to the contrary. It was determined that there was an unpaid debt owed by the Corporate Debtor to the allottee at the time of application admission, making the application valid. A group of allottees facing similar issues also applied as Resolution Applicants, but their Resolution Plan was pending consideration. The Tribunal dismissed the appeal challenging the admission order without costs. Case-Laws Insolvency and Bankruptcy Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300016