https://www.taxtmi.com/caselaws?id=422664 The tribunal determined that the appellants qualified as 'Related Parties' under Section 5(24) of the Insolvency and Bankruptcy Code due to their roles as Directors, involvement in company affairs, and significant shareholding. Additionally, the tribunal ruled that the appellants' claim for their infused funds to be considered 'Financial Debt' was not valid as the payment lacked the necessary characteristics of a financial disbursement. Consequently, the appeal was dismissed, affirming the Adjudicating Authority's decision. en-us Wed, 18 May 2022 00:00:00 +0530 Thu, 19 May 2022 21:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422664 The tribunal determined that the appellants qualified as 'Related Parties' under Section 5(24) of the Insolvency and Bankruptcy Code due to their roles as Directors, involvement in company affairs, and significant shareholding. Additionally, the tribunal ruled that the appellants' claim for their infused funds to be considered 'Financial Debt' was not valid as the payment lacked the necessary characteristics of a financial disbursement. Consequently, the appeal was dismissed, affirming the Adjudicating Authority's decision. Case-Laws Insolvency and Bankruptcy Wed, 18 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422664