https://www.taxtmi.com/caselaws?id=273397 The Appellate Tribunal upheld the Adjudicating Authority's decision to admit an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, finding a default due to a dishonored cheque. The Tribunal clarified that once admitted, the application cannot be withdrawn, and procedures under the Code must be followed. The Tribunal rejected the appellant's request to exercise inherent powers, dismissing the appeal for lack of merit and imposing no costs on either party. en-us Thu, 13 Jul 2017 00:00:00 +0530 Fri, 22 Jun 2018 21:46:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273397 The Appellate Tribunal upheld the Adjudicating Authority's decision to admit an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, finding a default due to a dishonored cheque. The Tribunal clarified that once admitted, the application cannot be withdrawn, and procedures under the Code must be followed. The Tribunal rejected the appellant's request to exercise inherent powers, dismissing the appeal for lack of merit and imposing no costs on either party. Case-Laws Insolvency and Bankruptcy Thu, 13 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273397