https://www.taxtmi.com/caselaws?id=353493 The Appellate Tribunal found the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by a Foreign Company against the Corporate Debtor, to be not maintainable due to the absence of a 'record of default' and lack of proper authorization. The Tribunal declared the orders of the Adjudicating Authority, including the appointment of an Interim Resolution Professional and declaration of moratorium, as unsustainable. Consequently, all actions and orders were set aside, allowing the Corporate Debtor to resume independent operations. The appeal was allowed, and the proceedings were directed to be closed, with the Appellant bearing the fees of the Interim Resolution Professional, if appointed. en-us Wed, 06 Dec 2017 00:00:00 +0530 Fri, 05 Jan 2018 09:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353493 The Appellate Tribunal found the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by a Foreign Company against the Corporate Debtor, to be not maintainable due to the absence of a 'record of default' and lack of proper authorization. The Tribunal declared the orders of the Adjudicating Authority, including the appointment of an Interim Resolution Professional and declaration of moratorium, as unsustainable. Consequently, all actions and orders were set aside, allowing the Corporate Debtor to resume independent operations. The appeal was allowed, and the proceedings were directed to be closed, with the Appellant bearing the fees of the Interim Resolution Professional, if appointed. Case-Laws Insolvency and Bankruptcy Wed, 06 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353493