https://www.taxtmi.com/caselaws?id=469352 Committee of Creditors membership depends on satisfactory proof of financial creditor status under the Code and regulations; where claims rest on cash-based loan arrangements and the material does not convincingly show bona fide business relations, disbursal, or financial debt, re-examination is justified. The Tribunal upheld the direction requiring the resolution professional to re-check the CoC constitution and proceed in accordance with the statutory framework. It also noted that the appellants had not established an indefeasible right to be treated as CoC members on the basis of the record then available, and that the earlier direction was only provisional rather than a final adjudication of entitlement. en-us Wed, 18 Dec 2024 00:00:00 +0530 Mon, 15 Jun 2026 23:25:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469352 Committee of Creditors membership depends on satisfactory proof of financial creditor status under the Code and regulations; where claims rest on cash-based loan arrangements and the material does not convincingly show bona fide business relations, disbursal, or financial debt, re-examination is justified. The Tribunal upheld the direction requiring the resolution professional to re-check the CoC constitution and proceed in accordance with the statutory framework. It also noted that the appellants had not established an indefeasible right to be treated as CoC members on the basis of the record then available, and that the earlier direction was only provisional rather than a final adjudication of entitlement. Case-Laws IBC Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469352