Admissibility of recorded statements and electronic evidence: CESTAT excludes non compliant statements and email printouts and sets aside revaluation ...
Corporate guarantee invocation in insolvency petition: enforceability upheld, conditional sanction letter not a novation, limitation not barred after ...
Regulation 12A requires a creditor to update its claim when the claim is satisfied, partly or fully, and such updation includes withdrawal where satisfaction leaves no remaining claim; accordingly a satisfied creditor ceases to have voting interest. The IRP/RP has an ongoing administrative duty to verify, collate and update claims but lacks adjudicatory power to finally allow or disallow withdrawal; that competence rests exclusively with the Adjudicating Authority. The impugned dismissal of the IRP's application was set aside and the matter remitted for fresh adjudication of the withdrawal/updation request and attendant issues, with questions on Section 14 and CIRP costs left open.
Regulation 12A requires a creditor to update its claim when the claim is satisfied, partly or fully, and such updation includes withdrawal where satisfaction leaves no remaining claim; accordingly a satisfied creditor ceases to have voting interest. The IRP/RP has an ongoing administrative duty to verify, collate and update claims but lacks adjudicatory power to finally allow or disallow withdrawal; that competence rests exclusively with the Adjudicating Authority. The impugned dismissal of the IRP's application was set aside and the matter remitted for fresh adjudication of the withdrawal/updation request and attendant issues, with questions on Section 14 and CIRP costs left open.
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