https://www.taxtmi.com/caselaws?id=287491 The Supreme Court granted liberty to the Director of a Corporate Debtor to move an application before the Adjudicating Authority regarding the rejection of a Miscellaneous application. The Director had settled the matter with Financial Creditors and sought to set aside the admission order. The court emphasized the need for an application under section 12A for settlement with approval from the Committee of Creditors. The court refrained from deciding on the claim of 'M/s. Edelweiss Asset Reconstruction Company Ltd.' and granted liberty to the Director to settle claims with all Creditors, including guarantors, under section 12A. The appeal was disposed of without costs. en-us Fri, 06 Sep 2019 00:00:00 +0530 Thu, 16 Apr 2020 11:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287491 The Supreme Court granted liberty to the Director of a Corporate Debtor to move an application before the Adjudicating Authority regarding the rejection of a Miscellaneous application. The Director had settled the matter with Financial Creditors and sought to set aside the admission order. The court emphasized the need for an application under section 12A for settlement with approval from the Committee of Creditors. The court refrained from deciding on the claim of 'M/s. Edelweiss Asset Reconstruction Company Ltd.' and granted liberty to the Director to settle claims with all Creditors, including guarantors, under section 12A. The appeal was disposed of without costs. Case-Laws Insolvency and Bankruptcy Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287491