Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Insolvency and BankruptcyJanuary 14, 2021Case LawsAT
Initiation of CIRP - in the instant case Section 8 notice under ‘I&B’ Code was not served upon the Second Respondent / Corporate Debtor and admittedly the same got returned as mentioned Supra, this Tribunal comes to a consequent conclusion that the impugned order dated 01.01.2020 passed by the Adjudicating Authority in admitting the petition is not legally tenable and the same is accordingly set aside by this Tribunal to secure the ends of justice. - AT
Initiation of CIRP - in the instant case Section 8 notice under ‘I&B’ Code was not served upon the Second Respondent / Corporate Debtor and admittedly the same got returned as mentioned Supra, this Tribunal comes to a consequent conclusion that the impugned order dated 01.01.2020 passed by the Adjudicating Authority in admitting the petition is not legally tenable and the same is accordingly set aside by this Tribunal to secure the ends of justice. - AT
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