https://www.taxtmi.com/caselaws?id=394071 The appellant filed an application under section 7 of the Insolvency and Bankruptcy Code, 2016 for corporate insolvency resolution. Dispute arose over respondent's creditor classification. Parties negotiated a settlement, with the appellant offering to deposit the claim amount. After deposit and withdrawal of the application, the tribunal allowed the withdrawal. The limitation argument was not decided due to settlement. Relying on Swiss Ribbons P. Ltd. v. Union of India, the tribunal set aside the order under rule 11 and assessed fees for the resolution professional, instructing prompt payments and asset handover. en-us Fri, 06 Dec 2019 00:00:00 +0530 Sat, 05 Dec 2020 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394071 The appellant filed an application under section 7 of the Insolvency and Bankruptcy Code, 2016 for corporate insolvency resolution. Dispute arose over respondent's creditor classification. Parties negotiated a settlement, with the appellant offering to deposit the claim amount. After deposit and withdrawal of the application, the tribunal allowed the withdrawal. The limitation argument was not decided due to settlement. Relying on Swiss Ribbons P. Ltd. v. Union of India, the tribunal set aside the order under rule 11 and assessed fees for the resolution professional, instructing prompt payments and asset handover. Case-Laws Insolvency and Bankruptcy Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394071