https://www.taxtmi.com/caselaws?id=283144 The Tribunal upheld the Adjudicating Authority's admission of the application by 'L&T Finance Limited' against 'M/s. Meka Dredging Company Private Limited' under Section 7 of the Insolvency and Bankruptcy Code, 2016, due to default in debt payment. Despite settling with 'L&T Finance Limited', no agreement was reached with 'ARCIL'. The Tribunal focused on the default by the Corporate Debtor and the validity of 'L&T Finance Limited's application, refusing relief to the Appellant but encouraging further resolution attempts to avoid liquidation. The appeal was disposed of, allowing parties to explore settlement options unhindered by the current liquidation order. en-us Mon, 05 Nov 2018 00:00:00 +0530 Tue, 10 Sep 2019 06:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283144 The Tribunal upheld the Adjudicating Authority's admission of the application by 'L&T Finance Limited' against 'M/s. Meka Dredging Company Private Limited' under Section 7 of the Insolvency and Bankruptcy Code, 2016, due to default in debt payment. Despite settling with 'L&T Finance Limited', no agreement was reached with 'ARCIL'. The Tribunal focused on the default by the Corporate Debtor and the validity of 'L&T Finance Limited's application, refusing relief to the Appellant but encouraging further resolution attempts to avoid liquidation. The appeal was disposed of, allowing parties to explore settlement options unhindered by the current liquidation order. Case-Laws Insolvency and Bankruptcy Mon, 05 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283144