https://www.taxtmi.com/caselaws?id=388524 The National Company Law Appellate Tribunal, New Delhi allowed the appeal challenging the admission of an insolvency application under Section 9 of the Insolvency and Bankruptcy Code, 2016 without notice to the Corporate Debtor. The Tribunal set aside the ex-parte order due to a violation of natural justice principles, following a settlement between the parties. Consequently, all orders appointing the Interim Resolution Professional were nullified, and the Corporate Debtor was released from moratorium. The matter was disposed of as withdrawn, allowing the Corporate Debtor to resume independent operations under its Board of Directors. The Adjudicating Authority was directed to determine the Resolution Professional's fee and costs for payment by the Corporate Debtor. en-us Fri, 02 Aug 2019 00:00:00 +0530 Sat, 16 Nov 2019 16:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388524 The National Company Law Appellate Tribunal, New Delhi allowed the appeal challenging the admission of an insolvency application under Section 9 of the Insolvency and Bankruptcy Code, 2016 without notice to the Corporate Debtor. The Tribunal set aside the ex-parte order due to a violation of natural justice principles, following a settlement between the parties. Consequently, all orders appointing the Interim Resolution Professional were nullified, and the Corporate Debtor was released from moratorium. The matter was disposed of as withdrawn, allowing the Corporate Debtor to resume independent operations under its Board of Directors. The Adjudicating Authority was directed to determine the Resolution Professional's fee and costs for payment by the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388524