https://www.taxtmi.com/caselaws?id=394511 The court dismissed the writ petition challenging the common order passed by the NCLT, Chennai, regarding the initiation of the Corporate Insolvency Resolution Process and approval of a third-party Resolution Plan. The court found that while there were procedural irregularities in pronouncing the orders, the rules were directory and not mandatory. As the petitioner was not significantly prejudiced and received the certified copy of the order promptly, the court advised seeking remedy through appeal before the NCLAT. The court also emphasized the importance of adherence to procedural rules in future proceedings. en-us Thu, 19 Mar 2020 00:00:00 +0530 Wed, 15 Apr 2020 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394511 The court dismissed the writ petition challenging the common order passed by the NCLT, Chennai, regarding the initiation of the Corporate Insolvency Resolution Process and approval of a third-party Resolution Plan. The court found that while there were procedural irregularities in pronouncing the orders, the rules were directory and not mandatory. As the petitioner was not significantly prejudiced and received the certified copy of the order promptly, the court advised seeking remedy through appeal before the NCLAT. The court also emphasized the importance of adherence to procedural rules in future proceedings. Case-Laws Insolvency and Bankruptcy Thu, 19 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394511