https://www.taxtmi.com/caselaws?id=376936 The National Company Law Appellate Tribunal set aside the order admitting an application for Corporate Insolvency Resolution Process under Section 9 of the Insolvency & Bankruptcy Code due to a settlement agreement between the parties and the absence of a Committee of Creditors. Consequently, all related orders were declared illegal, and the Corporate Debtor was released from proceedings to operate independently. The Adjudicating Authority was tasked with determining the Interim Resolution Professional's fee, to be borne by the Corporate Debtor. The appeal was allowed with directions, closing the proceedings without costs to any party. en-us Mon, 11 Feb 2019 00:00:00 +0530 Tue, 19 Mar 2019 00:03:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376936 The National Company Law Appellate Tribunal set aside the order admitting an application for Corporate Insolvency Resolution Process under Section 9 of the Insolvency & Bankruptcy Code due to a settlement agreement between the parties and the absence of a Committee of Creditors. Consequently, all related orders were declared illegal, and the Corporate Debtor was released from proceedings to operate independently. The Adjudicating Authority was tasked with determining the Interim Resolution Professional's fee, to be borne by the Corporate Debtor. The appeal was allowed with directions, closing the proceedings without costs to any party. Case-Laws Insolvency and Bankruptcy Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376936