TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The Appellate Tribunal upheld the NCLT's dismissal of the Company Petition filed under Section 9 of the IBC, finding that the operational creditor's claim was fully satisfied by the respondent's remittance, which the appellant failed to disclose. The appellant's conduct in prolonging proceedings and not withdrawing the petition despite multiple adjournments was deemed reprehensible. While the NCLT imposed costs of Rs. 5,00,000/- on the appellant for unnecessary delay, the Tribunal, considering the appellant's changed management and plausible explanations, reduced the costs to Rs. 1,00,000/-. The appellant is directed to deposit this amount within 30 days, with proof to be submitted to the Registry. The appeal is accordingly disposed of.
TaxTMI 
TaxTMI 
