https://www.taxtmi.com/caselaws?id=416993 The Tribunal dismissed the company petition seeking Corporate Insolvency Resolution Process against a Corporate Debtor under section 9 of the Insolvency & Bankruptcy Code. The Tribunal ruled that the claim by the Operational Creditor, a retired partner in a partnership firm, did not meet the definition of an "Operational Creditor" under the IBC. It held that the IBC does not protect a partner's claim against another partner or the firm, citing a NCLAT judgment. Therefore, the petition was deemed not maintainable, and the application under section 9 of the Code was rejected, resulting in the dismissal of the petition. en-us Fri, 07 Jan 2022 00:00:00 +0530 Thu, 13 Jan 2022 08:59:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416993 The Tribunal dismissed the company petition seeking Corporate Insolvency Resolution Process against a Corporate Debtor under section 9 of the Insolvency & Bankruptcy Code. The Tribunal ruled that the claim by the Operational Creditor, a retired partner in a partnership firm, did not meet the definition of an "Operational Creditor" under the IBC. It held that the IBC does not protect a partner's claim against another partner or the firm, citing a NCLAT judgment. Therefore, the petition was deemed not maintainable, and the application under section 9 of the Code was rejected, resulting in the dismissal of the petition. Case-Laws Insolvency and Bankruptcy Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416993