https://www.taxtmi.com/caselaws?id=279894 The appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was successful. The Tribunal found that a pre-existing dispute had been settled between the parties, rendering the Section 9 application not maintainable. Consequently, the initial order was set aside, and all actions by the Interim Resolution Professional and orders by the Adjudicating Authority were deemed illegal. The Corporate Debtor was allowed to operate independently, with the Board of Directors in charge, and the Interim Resolution Professional's fee was to be determined and paid by the Corporate Debtor for the period of functioning. The appeal was allowed, and Interlocutory Applications were disposed of with no costs awarded. en-us Fri, 08 Feb 2019 00:00:00 +0530 Wed, 10 Apr 2019 06:12:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279894 The appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was successful. The Tribunal found that a pre-existing dispute had been settled between the parties, rendering the Section 9 application not maintainable. Consequently, the initial order was set aside, and all actions by the Interim Resolution Professional and orders by the Adjudicating Authority were deemed illegal. The Corporate Debtor was allowed to operate independently, with the Board of Directors in charge, and the Interim Resolution Professional's fee was to be determined and paid by the Corporate Debtor for the period of functioning. The appeal was allowed, and Interlocutory Applications were disposed of with no costs awarded. Case-Laws Insolvency and Bankruptcy Fri, 08 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279894