https://www.taxtmi.com/caselaws?id=373677 The National Company Law Appellate Tribunal, New Delhi, set aside the Adjudicating Authority's order admitting an application under Section 7 of the Insolvency and Bankruptcy Code, as a settlement had been reached between the Corporate Debtor and the Financial Creditor before the admission date. The Tribunal declared the order illegal, dismissed the application, released the Company from insolvency proceedings, and allowed it to operate independently. Additionally, the Tribunal invalidated all prior orders, closed the proceedings, and emphasized the significance of accurate application of the law in insolvency matters for fair outcomes. en-us Fri, 30 Nov 2018 00:00:00 +0530 Fri, 18 Jan 2019 08:09:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373677 The National Company Law Appellate Tribunal, New Delhi, set aside the Adjudicating Authority's order admitting an application under Section 7 of the Insolvency and Bankruptcy Code, as a settlement had been reached between the Corporate Debtor and the Financial Creditor before the admission date. The Tribunal declared the order illegal, dismissed the application, released the Company from insolvency proceedings, and allowed it to operate independently. Additionally, the Tribunal invalidated all prior orders, closed the proceedings, and emphasized the significance of accurate application of the law in insolvency matters for fair outcomes. Case-Laws Insolvency and Bankruptcy Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373677