https://www.taxtmi.com/caselaws?id=431027 The Tribunal dismissed the appeals, upholding the impugned order dated 30.05.2022, finding it legally valid, just, and proper. The appellants' claims were not considered financial debt under the I & B Code, thus not qualifying them as financial creditors. The Tribunal upheld the classification of the appellants as related parties due to their significant influence over the corporate debtor. The Resolution Plan was approved correctly as the appellants' claims were rejected by the Committee of Creditors, emphasizing that the I & B Code is for insolvency resolution, not debt recovery. en-us Wed, 28 Sep 2022 00:00:00 +0530 Mon, 05 Dec 2022 08:56:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431027 The Tribunal dismissed the appeals, upholding the impugned order dated 30.05.2022, finding it legally valid, just, and proper. The appellants' claims were not considered financial debt under the I & B Code, thus not qualifying them as financial creditors. The Tribunal upheld the classification of the appellants as related parties due to their significant influence over the corporate debtor. The Resolution Plan was approved correctly as the appellants' claims were rejected by the Committee of Creditors, emphasizing that the I & B Code is for insolvency resolution, not debt recovery. Case-Laws Insolvency and Bankruptcy Wed, 28 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431027