https://www.taxtmi.com/caselaws?id=352835 The Appellate Tribunal found that the application under Section 9 of the Insolvency and Bankruptcy Code was not maintainable due to the existence of a dispute before the demand notice. The parties settled the dispute, making the initiation of the Resolution process unnecessary. The Tribunal held that the Adjudicating Authority lacked the power to appoint an 'Interim Resolution Professional' of its own choice. Consequently, the impugned order admitting the application under Section 9 was set aside, and all related orders were declared illegal. The appellant company was released from legal constraints and allowed to operate independently. en-us Thu, 26 Oct 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352835 The Appellate Tribunal found that the application under Section 9 of the Insolvency and Bankruptcy Code was not maintainable due to the existence of a dispute before the demand notice. The parties settled the dispute, making the initiation of the Resolution process unnecessary. The Tribunal held that the Adjudicating Authority lacked the power to appoint an 'Interim Resolution Professional' of its own choice. Consequently, the impugned order admitting the application under Section 9 was set aside, and all related orders were declared illegal. The appellant company was released from legal constraints and allowed to operate independently. Case-Laws Insolvency and Bankruptcy Thu, 26 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352835