https://www.taxtmi.com/caselaws?id=434855 The Tribunal dismissed the application for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, ruling that the amount claimed by the Financial Creditor was an Operational Debt, not a Financial Debt as asserted. Consequently, the Financial Creditor was deemed ineligible to file under section 7 of the Insolvency & Bankruptcy Code, 2016. The Tribunal clarified that its decision did not reflect an opinion on the merits and that the petitioner retained the right to pursue remedies in other judicial forums. en-us Fri, 24 Feb 2023 00:00:00 +0530 Sat, 04 Mar 2023 16:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434855 The Tribunal dismissed the application for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, ruling that the amount claimed by the Financial Creditor was an Operational Debt, not a Financial Debt as asserted. Consequently, the Financial Creditor was deemed ineligible to file under section 7 of the Insolvency & Bankruptcy Code, 2016. The Tribunal clarified that its decision did not reflect an opinion on the merits and that the petitioner retained the right to pursue remedies in other judicial forums. Case-Laws Insolvency and Bankruptcy Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434855