https://www.taxtmi.com/caselaws?id=277183 The appeal was allowed, and the Adjudicating Authority's order dismissing the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was set aside. The Appellant, classified as a Financial Creditor under recent amendments, was directed to initiate the Corporate Insolvency Resolution Process against M/s Earth Gracia Buildcon Private Limited. The Adjudicating Authority's failure to consider relevant factors, including the terms of the allotment letter and the default on payments by the Respondent, led to the decision to admit the Company Petition and appoint an Interim Resolution Professional for the resolution process. en-us Tue, 11 Sep 2018 00:00:00 +0530 Wed, 28 Nov 2018 06:33:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277183 The appeal was allowed, and the Adjudicating Authority's order dismissing the application under Section 7 of the Insolvency and Bankruptcy Code, 2016 was set aside. The Appellant, classified as a Financial Creditor under recent amendments, was directed to initiate the Corporate Insolvency Resolution Process against M/s Earth Gracia Buildcon Private Limited. The Adjudicating Authority's failure to consider relevant factors, including the terms of the allotment letter and the default on payments by the Respondent, led to the decision to admit the Company Petition and appoint an Interim Resolution Professional for the resolution process. Case-Laws Companies Law Tue, 11 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277183