https://www.taxtmi.com/caselaws?id=426088 The Hon'ble Apex Court affirmed that the debt owed by the Corporate Debtor to the Financial Creditor qualified as a "financial debt" under the Insolvency and Bankruptcy Code. The balance sheets acknowledged the debt, extending the limitation period. The application under Section 7 of IBC was deemed timely filed. The principle of res judicata barred the Appellants from re-agitating issues. No irregularities were found in the Adjudicating Authority's order, leading to the dismissal of both appeals. The Tribunal upheld the previous findings, emphasizing finality in litigation and preventing abuse of the legal process. en-us Fri, 05 Aug 2022 00:00:00 +0530 Mon, 08 Aug 2022 09:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426088 The Hon'ble Apex Court affirmed that the debt owed by the Corporate Debtor to the Financial Creditor qualified as a "financial debt" under the Insolvency and Bankruptcy Code. The balance sheets acknowledged the debt, extending the limitation period. The application under Section 7 of IBC was deemed timely filed. The principle of res judicata barred the Appellants from re-agitating issues. No irregularities were found in the Adjudicating Authority's order, leading to the dismissal of both appeals. The Tribunal upheld the previous findings, emphasizing finality in litigation and preventing abuse of the legal process. Case-Laws Insolvency and Bankruptcy Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426088