https://www.taxtmi.com/caselaws?id=385594 The Supreme Court interpreted Regulation 33 of the Insolvency and Bankruptcy Board of India Regulations regarding expenses in insolvency resolution processes. It held that in the absence of a Committee of Creditors, the applicant is liable for expenses. If no Committee is appointed, the creditor initiating the application bears the costs, not the corporate debtor. The Court set aside a previous judgment that wrongly imposed expenses on the debtor. Additionally, in another case, the Court dismissed an appeal without detailed reasoning, suggesting the issues raised did not warrant further consideration. en-us Mon, 05 Aug 2019 00:00:00 +0530 Tue, 10 Sep 2019 06:01:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385594 The Supreme Court interpreted Regulation 33 of the Insolvency and Bankruptcy Board of India Regulations regarding expenses in insolvency resolution processes. It held that in the absence of a Committee of Creditors, the applicant is liable for expenses. If no Committee is appointed, the creditor initiating the application bears the costs, not the corporate debtor. The Court set aside a previous judgment that wrongly imposed expenses on the debtor. Additionally, in another case, the Court dismissed an appeal without detailed reasoning, suggesting the issues raised did not warrant further consideration. Case-Laws Insolvency and Bankruptcy Mon, 05 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385594