https://www.taxtmi.com/caselaws?id=424806 The Tribunal ruled in favor of the Applicant, determining that the claim should be considered as a financial debt due to the debtor-creditor relationship established. The Applicant was recognized as an Operational Creditor for unpaid freight charges and operational costs. The delay in claim submission was condoned, attributing it to lack of knowledge. The debt was classified as operational, supported by the collateral security provided. The Liquidator was directed to verify claims and the Corporate Debtor's balance sheet, with the Applicant instructed to submit necessary documentation. The application was disposed of with these directives. en-us Fri, 01 Jul 2022 00:00:00 +0530 Fri, 08 Jul 2022 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424806 The Tribunal ruled in favor of the Applicant, determining that the claim should be considered as a financial debt due to the debtor-creditor relationship established. The Applicant was recognized as an Operational Creditor for unpaid freight charges and operational costs. The delay in claim submission was condoned, attributing it to lack of knowledge. The debt was classified as operational, supported by the collateral security provided. The Liquidator was directed to verify claims and the Corporate Debtor's balance sheet, with the Applicant instructed to submit necessary documentation. The application was disposed of with these directives. Case-Laws Insolvency and Bankruptcy Fri, 01 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424806