https://www.taxtmi.com/caselaws?id=381767 The National Company Law Tribunal (NCLT) admitted an insolvency application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP). However, the parties reached a settlement agreement, leading to the withdrawal of the insolvency application and restoration of the Corporate Debtor's management. The tribunal directed the parties to comply with the settlement terms, set aside previous orders, and allowed the Corporate Debtor to operate independently through its Board of Directors. The appeal was allowed without costs imposed. en-us Mon, 10 Jun 2019 00:00:00 +0530 Wed, 19 Jun 2019 06:49:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381767 The National Company Law Tribunal (NCLT) admitted an insolvency application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP). However, the parties reached a settlement agreement, leading to the withdrawal of the insolvency application and restoration of the Corporate Debtor's management. The tribunal directed the parties to comply with the settlement terms, set aside previous orders, and allowed the Corporate Debtor to operate independently through its Board of Directors. The appeal was allowed without costs imposed. Case-Laws Insolvency and Bankruptcy Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381767