https://www.taxtmi.com/caselaws?id=387937 The Tribunal dismissed the appeal, upholding the Adjudicating Authority's decision to admit the application under Section 7 of the IBC. It ruled that the Resolution Professional can proceed even if disputes are pending in another forum, as the IBC provisions override other laws. The Tribunal emphasized that the IBC's purpose is not limited to keeping the company as a going concern and affirmed the legality of the debt assignment to Edelweiss, rejecting claims based on the principle of comity of courts. en-us Fri, 06 Sep 2019 00:00:00 +0530 Tue, 05 Nov 2019 10:58:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387937 The Tribunal dismissed the appeal, upholding the Adjudicating Authority's decision to admit the application under Section 7 of the IBC. It ruled that the Resolution Professional can proceed even if disputes are pending in another forum, as the IBC provisions override other laws. The Tribunal emphasized that the IBC's purpose is not limited to keeping the company as a going concern and affirmed the legality of the debt assignment to Edelweiss, rejecting claims based on the principle of comity of courts. Case-Laws Insolvency and Bankruptcy Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387937