https://www.taxtmi.com/caselaws?id=358897 The Appellate Tribunal upheld the dismissal of an application under Section 9 of the Insolvency and Bankruptcy Code due to pending winding up proceedings before the High Court. The Tribunal emphasized that initiating an application under Section 10 was not permissible if winding up proceedings were already underway against the Corporate Debtor. The ruling in previous cases extended to both Financial and Operational Creditors, highlighting that filing a petition under Section 7 or 9 against a Corporate Debtor involved in winding up proceedings was not maintainable. The Tribunal set aside costs imposed on the appellant, concluding the application was not viable alongside existing winding up proceedings. en-us Fri, 02 Feb 2018 00:00:00 +0530 Fri, 20 Apr 2018 05:58:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358897 The Appellate Tribunal upheld the dismissal of an application under Section 9 of the Insolvency and Bankruptcy Code due to pending winding up proceedings before the High Court. The Tribunal emphasized that initiating an application under Section 10 was not permissible if winding up proceedings were already underway against the Corporate Debtor. The ruling in previous cases extended to both Financial and Operational Creditors, highlighting that filing a petition under Section 7 or 9 against a Corporate Debtor involved in winding up proceedings was not maintainable. The Tribunal set aside costs imposed on the appellant, concluding the application was not viable alongside existing winding up proceedings. Case-Laws Insolvency and Bankruptcy Fri, 02 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358897