https://www.taxtmi.com/caselaws?id=429328 The tribunal determined that the claim raised by Respondent No. 1 did not qualify as an operational debt under the Insolvency and Bankruptcy Code (IBC). As a result, the issues of whether the debt exceeded Rs. 1 lakh and if there was a default were not considered. The tribunal overturned the Adjudicating Authority's decision, released the Corporate Debtor from Corporate Insolvency Resolution Process (CIRP), and permitted it to operate autonomously under its board of directors. The appeal was granted, and all associated orders were invalidated and revoked. en-us Thu, 20 Oct 2022 00:00:00 +0530 Fri, 21 Oct 2022 21:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429328 The tribunal determined that the claim raised by Respondent No. 1 did not qualify as an operational debt under the Insolvency and Bankruptcy Code (IBC). As a result, the issues of whether the debt exceeded Rs. 1 lakh and if there was a default were not considered. The tribunal overturned the Adjudicating Authority's decision, released the Corporate Debtor from Corporate Insolvency Resolution Process (CIRP), and permitted it to operate autonomously under its board of directors. The appeal was granted, and all associated orders were invalidated and revoked. Case-Laws Insolvency and Bankruptcy Thu, 20 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429328