https://www.taxtmi.com/caselaws?id=391194 The National Company Law Appellate Tribunal set aside the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, allowing the Financial Creditor to withdraw the application. Consequently, the Corporate Debtor was released from legal obligations and permitted to operate independently. The Interim Resolution Professional was directed to transfer the records and assets of the Corporate Debtor to its management promptly. The appeal was allowed, and the case was disposed of with specific observations and directions, with no costs awarded. en-us Fri, 15 Nov 2019 00:00:00 +0530 Wed, 22 Jan 2020 08:23:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391194 The National Company Law Appellate Tribunal set aside the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, allowing the Financial Creditor to withdraw the application. Consequently, the Corporate Debtor was released from legal obligations and permitted to operate independently. The Interim Resolution Professional was directed to transfer the records and assets of the Corporate Debtor to its management promptly. The appeal was allowed, and the case was disposed of with specific observations and directions, with no costs awarded. Case-Laws Insolvency and Bankruptcy Fri, 15 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391194