https://www.taxtmi.com/caselaws?id=396270 The Tribunal set aside the order admitting the application under Section 9 of the Insolvency and Bankruptcy Code against the corporate debtor, citing the existence of pre-existing disputes that were not disclosed. The Tribunal found fault with the conduct of the operational creditor and its representative for failing to disclose crucial correspondence showing disputes. Consequently, the Corporate Insolvency Resolution Process was quashed, and heavy costs were imposed on the operational creditor and its representative. The corporate debtor was released from the CIRP, with assets and records to be returned, and costs totaling Rs. 7,50,000 imposed on the operational creditor and its representative. en-us Mon, 18 Nov 2019 00:00:00 +0530 Sat, 27 Jun 2020 21:56:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396270 The Tribunal set aside the order admitting the application under Section 9 of the Insolvency and Bankruptcy Code against the corporate debtor, citing the existence of pre-existing disputes that were not disclosed. The Tribunal found fault with the conduct of the operational creditor and its representative for failing to disclose crucial correspondence showing disputes. Consequently, the Corporate Insolvency Resolution Process was quashed, and heavy costs were imposed on the operational creditor and its representative. The corporate debtor was released from the CIRP, with assets and records to be returned, and costs totaling Rs. 7,50,000 imposed on the operational creditor and its representative. Case-Laws Insolvency and Bankruptcy Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396270