https://www.taxtmi.com/caselaws?id=305579 The Appellate Tribunal dismissed the Appeals challenging the rejection of the intervention petition by L&T Infrastructure Finance Company Ltd. and the admission of the application under Section 7 by ICICI Bank Limited. The Tribunal held that L&T, as a financial creditor, lacked the right to intervene in opposing ICICI Bank's application. It clarified that L&T could file a claim post-admission but could not contest the admission order based on a superior claim. The judgment underscored the limited intervention scope for creditors not directly involved in insolvency proceedings under the Insolvency and Bankruptcy Code. en-us Mon, 19 Aug 2019 00:00:00 +0530 Tue, 13 Dec 2022 17:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305579 The Appellate Tribunal dismissed the Appeals challenging the rejection of the intervention petition by L&T Infrastructure Finance Company Ltd. and the admission of the application under Section 7 by ICICI Bank Limited. The Tribunal held that L&T, as a financial creditor, lacked the right to intervene in opposing ICICI Bank's application. It clarified that L&T could file a claim post-admission but could not contest the admission order based on a superior claim. The judgment underscored the limited intervention scope for creditors not directly involved in insolvency proceedings under the Insolvency and Bankruptcy Code. Case-Laws Insolvency and Bankruptcy Mon, 19 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305579