https://www.taxtmi.com/caselaws?id=424076 The Tribunal dismissed the application for Corporate Insolvency Resolution Process, finding no financial debt between the parties. It held that the amount claimed was not a loan but assurance money under the sale deed, absolving the Corporate Debtor of repayment liability. The decision aligned with the Insolvency and Bankruptcy Code, 2016, permitting the Financial Creditor to pursue alternative legal avenues for recovery. en-us Mon, 13 Jun 2022 00:00:00 +0530 Wed, 22 Jun 2022 08:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424076 The Tribunal dismissed the application for Corporate Insolvency Resolution Process, finding no financial debt between the parties. It held that the amount claimed was not a loan but assurance money under the sale deed, absolving the Corporate Debtor of repayment liability. The decision aligned with the Insolvency and Bankruptcy Code, 2016, permitting the Financial Creditor to pursue alternative legal avenues for recovery. Case-Laws Insolvency and Bankruptcy Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424076