https://www.taxtmi.com/caselaws?id=381561 The appeal was successful as the total dues owed to the Operational Creditor were paid by the Appellant shareholder of the Corporate Debtor. As the Committee of Creditors had not been constituted, the order admitting the application under Section 9 of the Insolvency and Bankruptcy Code was set aside. Consequently, all actions taken by the Interim Resolution Professional were declared illegal, and the Corporate Debtor was released from legal restrictions to operate independently. The appeal was allowed, and no costs were awarded, directing the Adjudicating Authority to close the proceedings in favor of the Appellant. en-us Tue, 16 Apr 2019 00:00:00 +0530 Fri, 14 Jun 2019 07:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381561 The appeal was successful as the total dues owed to the Operational Creditor were paid by the Appellant shareholder of the Corporate Debtor. As the Committee of Creditors had not been constituted, the order admitting the application under Section 9 of the Insolvency and Bankruptcy Code was set aside. Consequently, all actions taken by the Interim Resolution Professional were declared illegal, and the Corporate Debtor was released from legal restrictions to operate independently. The appeal was allowed, and no costs were awarded, directing the Adjudicating Authority to close the proceedings in favor of the Appellant. Case-Laws Insolvency and Bankruptcy Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381561