https://www.taxtmi.com/caselaws?id=383727 The court, invoking its inherent powers under Rule 11 of NCLT Rules, 2016, decided to close the Corporate Insolvency Resolution Process (CIRP) proceedings against the Corporate Debtor and cease the order of moratorium. This decision was based on the settlement of outstanding dues between the parties, the absence of a constituted Committee of Creditors (CoC), and the parties' consent terms. The Interim Resolution Professional's fees are to be paid by the Corporate Debtor as per agreed terms. Consequently, the CIRP proceedings and the order of moratorium are closed, along with the related applications and petitions. en-us Tue, 30 Apr 2019 00:00:00 +0530 Tue, 30 Jul 2019 06:37:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383727 The court, invoking its inherent powers under Rule 11 of NCLT Rules, 2016, decided to close the Corporate Insolvency Resolution Process (CIRP) proceedings against the Corporate Debtor and cease the order of moratorium. This decision was based on the settlement of outstanding dues between the parties, the absence of a constituted Committee of Creditors (CoC), and the parties' consent terms. The Interim Resolution Professional's fees are to be paid by the Corporate Debtor as per agreed terms. Consequently, the CIRP proceedings and the order of moratorium are closed, along with the related applications and petitions. Case-Laws Insolvency and Bankruptcy Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383727