https://www.taxtmi.com/caselaws?id=384497 The court upheld the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a Corporate Debtor, despite challenges to the order citing restrictions imposed by the Supreme Court on Sahara Group companies. The court noted the Corporate Debtor's payments towards salaries and other obligations, along with settlements of debts by other Sahara Group entities. With no specific orders prohibiting payment release and considering the settlement of claims by another group company, the court dismissed the appeal, emphasizing the significance of clear legal directives in assessing financial responsibilities within corporate groups. en-us Wed, 14 Aug 2019 00:00:00 +0530 Fri, 16 Aug 2019 07:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384497 The court upheld the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a Corporate Debtor, despite challenges to the order citing restrictions imposed by the Supreme Court on Sahara Group companies. The court noted the Corporate Debtor's payments towards salaries and other obligations, along with settlements of debts by other Sahara Group entities. With no specific orders prohibiting payment release and considering the settlement of claims by another group company, the court dismissed the appeal, emphasizing the significance of clear legal directives in assessing financial responsibilities within corporate groups. Case-Laws Insolvency and Bankruptcy Wed, 14 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384497