https://www.taxtmi.com/caselaws?id=288545 The Tribunal addressed the issue of reimbursement of the initial cost for the Corporate Insolvency Resolution Process (CIRP), which was not approved by the Committee of Creditors, leading to the cessation of CIRP proceedings due to winding up proceedings initiated by the Financial Creditor. The Tribunal emphasized the importance of the Committee of Creditors' approval of the Resolution Professional and the need for clarity on the reimbursement issue amidst the various creditor actions. The case was reserved for further orders to address the complexity and multiple facets involved. en-us Fri, 04 Jan 2019 00:00:00 +0530 Tue, 16 Jun 2020 10:12:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288545 The Tribunal addressed the issue of reimbursement of the initial cost for the Corporate Insolvency Resolution Process (CIRP), which was not approved by the Committee of Creditors, leading to the cessation of CIRP proceedings due to winding up proceedings initiated by the Financial Creditor. The Tribunal emphasized the importance of the Committee of Creditors' approval of the Resolution Professional and the need for clarity on the reimbursement issue amidst the various creditor actions. The case was reserved for further orders to address the complexity and multiple facets involved. Case-Laws Insolvency and Bankruptcy Fri, 04 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288545