https://www.taxtmi.com/caselaws?id=365797 The Appellate Tribunal set aside the order admitting the application under Section 7 of the I&B Code, declaring it not a fit case for initiating corporate insolvency resolution due to a genuine dispute about the debt. All orders by the Adjudicating Authority were deemed illegal, and the Corporate Debtor was released from proceedings, allowed to function independently. The Adjudicating Authority was directed to fix the Resolution Professional's fee to be paid by the Corporate Debtor. The appeal was allowed with no order as to costs. en-us Wed, 18 Jul 2018 00:00:00 +0530 Thu, 23 Aug 2018 09:37:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365797 The Appellate Tribunal set aside the order admitting the application under Section 7 of the I&B Code, declaring it not a fit case for initiating corporate insolvency resolution due to a genuine dispute about the debt. All orders by the Adjudicating Authority were deemed illegal, and the Corporate Debtor was released from proceedings, allowed to function independently. The Adjudicating Authority was directed to fix the Resolution Professional's fee to be paid by the Corporate Debtor. The appeal was allowed with no order as to costs. Case-Laws Insolvency and Bankruptcy Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365797