https://www.taxtmi.com/caselaws?id=286161 The Appellate Tribunal addressed the issue of delay in passing orders by the Adjudicating Authority under Section 7 of the Insolvency and Bankruptcy Code. It emphasized the importance of timely disposal of applications to prevent unnecessary prolongation. The judgment also discussed criteria for admitting or rejecting Section 7 applications, procedural requirements for filing by financial creditors, contrasting procedures for financial and operational creditors, and clarified that no hearing of third parties is required at the admission stage. The Tribunal highlighted the need to adhere to established legal principles in such matters. en-us Tue, 15 Jan 2019 00:00:00 +0530 Fri, 14 Feb 2020 19:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286161 The Appellate Tribunal addressed the issue of delay in passing orders by the Adjudicating Authority under Section 7 of the Insolvency and Bankruptcy Code. It emphasized the importance of timely disposal of applications to prevent unnecessary prolongation. The judgment also discussed criteria for admitting or rejecting Section 7 applications, procedural requirements for filing by financial creditors, contrasting procedures for financial and operational creditors, and clarified that no hearing of third parties is required at the admission stage. The Tribunal highlighted the need to adhere to established legal principles in such matters. Case-Laws Insolvency and Bankruptcy Tue, 15 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286161