https://www.taxtmi.com/caselaws?id=418763 The Tribunal dismissed the application to initiate Corporate Insolvency Resolution Process (CIRP) against the Non-Banking Financial Company (NBFC) Corporate Debtor. The dismissal was based on the finding that NBFCs are excluded from the definition of "Corporate Person" under the Insolvency and Bankruptcy Code. Additionally, the Tribunal considered the presence of prior disputes and the Operational Creditor's shareholding in the Corporate Debtor as factors contributing to the application's non-maintainability. en-us Tue, 15 Feb 2022 00:00:00 +0530 Thu, 24 Feb 2022 07:12:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418763 The Tribunal dismissed the application to initiate Corporate Insolvency Resolution Process (CIRP) against the Non-Banking Financial Company (NBFC) Corporate Debtor. The dismissal was based on the finding that NBFCs are excluded from the definition of "Corporate Person" under the Insolvency and Bankruptcy Code. Additionally, the Tribunal considered the presence of prior disputes and the Operational Creditor's shareholding in the Corporate Debtor as factors contributing to the application's non-maintainability. Case-Laws Insolvency and Bankruptcy Tue, 15 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418763