https://www.taxtmi.com/caselaws?id=287571 The impugned order under Section 7 of the Insolvency and Bankruptcy Code was declared illegal due to a violation of natural justice principles and contrary to a previous Appellate Tribunal decision. The appellant, a solvent company willing to pay dues, offered a settlement to clear the sum with interest. The financial creditor accepted the offer, leading to the setting aside of the order, release of the appellant from legal constraints, and permission for independent company functioning. The judgment highlighted the necessity of following natural justice rules and ensuring fair proceedings under the I&B Code to protect the rights of all parties involved. en-us Fri, 26 May 2017 00:00:00 +0530 Mon, 20 Apr 2020 12:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287571 The impugned order under Section 7 of the Insolvency and Bankruptcy Code was declared illegal due to a violation of natural justice principles and contrary to a previous Appellate Tribunal decision. The appellant, a solvent company willing to pay dues, offered a settlement to clear the sum with interest. The financial creditor accepted the offer, leading to the setting aside of the order, release of the appellant from legal constraints, and permission for independent company functioning. The judgment highlighted the necessity of following natural justice rules and ensuring fair proceedings under the I&B Code to protect the rights of all parties involved. Case-Laws Insolvency and Bankruptcy Fri, 26 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287571