https://www.taxtmi.com/caselaws?id=288562 The Appellate Tribunal upheld the order dated 8th March, 2019, in an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by DCB Bank Limited against M/s. Fort Biotech Private Limited. Despite the Corporate Debtor's claims, the Adjudicating Authority lacked power to review the order under Rule 11 of the National Company Law Tribunal Rules, 2016. The Tribunal emphasized the necessity of limited notice to the Corporate Debtor and the importance of principles of natural justice under the Companies Act, 2013. Debt and default were established, leading to the rejection of the Corporate Debtor's plea, with costs not imposed but the order affirmed. en-us Wed, 10 Jul 2019 00:00:00 +0530 Wed, 28 Oct 2020 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288562 The Appellate Tribunal upheld the order dated 8th March, 2019, in an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, filed by DCB Bank Limited against M/s. Fort Biotech Private Limited. Despite the Corporate Debtor's claims, the Adjudicating Authority lacked power to review the order under Rule 11 of the National Company Law Tribunal Rules, 2016. The Tribunal emphasized the necessity of limited notice to the Corporate Debtor and the importance of principles of natural justice under the Companies Act, 2013. Debt and default were established, leading to the rejection of the Corporate Debtor's plea, with costs not imposed but the order affirmed. Case-Laws Insolvency and Bankruptcy Wed, 10 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288562