https://www.taxtmi.com/caselaws?id=354695 The Tribunal allowed two appeals challenging orders admitting applications under Section 9 of the Insolvency & Bankruptcy Code, 2016, due to procedural irregularities. Macquarie Bank Ltd. failed to provide a certificate from a financial institution as required by the Code, and the notice issued by their lawyer was deemed inadequate. Consequently, all orders, including the appointment of an Interim Resolution Professional, were set aside. The Appellant company was released from legal constraints and permitted to resume operations under its Board of Directors. The Tribunal directed the determination and payment of fees for any Interim Resolution Professional services. en-us Tue, 01 Aug 2017 00:00:00 +0530 Fri, 02 Feb 2018 09:18:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354695 The Tribunal allowed two appeals challenging orders admitting applications under Section 9 of the Insolvency & Bankruptcy Code, 2016, due to procedural irregularities. Macquarie Bank Ltd. failed to provide a certificate from a financial institution as required by the Code, and the notice issued by their lawyer was deemed inadequate. Consequently, all orders, including the appointment of an Interim Resolution Professional, were set aside. The Appellant company was released from legal constraints and permitted to resume operations under its Board of Directors. The Tribunal directed the determination and payment of fees for any Interim Resolution Professional services. Case-Laws Insolvency and Bankruptcy Tue, 01 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354695