https://www.taxtmi.com/caselaws?id=416796 The Tribunal dismissed the application filed under Section 9 of the Insolvency & Bankruptcy Code, ruling that the Operational Creditor did not qualify as an Operational Creditor under the Code. The application sought initiation of Corporate Insolvency Resolution Process against a Corporate Debtor but was deemed not maintainable due to the failure to meet specific criteria for operational debt. The Tribunal concluded that the claim did not fulfill the requirements for classification as operational debt, resulting in the dismissal of the application without costs awarded. en-us Fri, 24 Dec 2021 00:00:00 +0530 Sat, 08 Jan 2022 09:48:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416796 The Tribunal dismissed the application filed under Section 9 of the Insolvency & Bankruptcy Code, ruling that the Operational Creditor did not qualify as an Operational Creditor under the Code. The application sought initiation of Corporate Insolvency Resolution Process against a Corporate Debtor but was deemed not maintainable due to the failure to meet specific criteria for operational debt. The Tribunal concluded that the claim did not fulfill the requirements for classification as operational debt, resulting in the dismissal of the application without costs awarded. Case-Laws Insolvency and Bankruptcy Fri, 24 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416796