https://www.taxtmi.com/caselaws?id=397438 The appeal was allowed, and the application under Section 7 of the IBC filed by the Financial Creditor was dismissed. The Corporate Debtor was released from the proceedings, allowed to function independently through its Board of Directors. The Interim Resolution Professional (IRP)/Resolution Professional (RP) was directed to hand back the records and management to the Board of Directors. The IRP/RP was also instructed to submit particulars regarding CIRP costs and fees to the Adjudicating Authority for the Financial Creditor to pay. en-us Tue, 25 Feb 2020 00:00:00 +0530 Wed, 19 Aug 2020 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397438 The appeal was allowed, and the application under Section 7 of the IBC filed by the Financial Creditor was dismissed. The Corporate Debtor was released from the proceedings, allowed to function independently through its Board of Directors. The Interim Resolution Professional (IRP)/Resolution Professional (RP) was directed to hand back the records and management to the Board of Directors. The IRP/RP was also instructed to submit particulars regarding CIRP costs and fees to the Adjudicating Authority for the Financial Creditor to pay. Case-Laws Insolvency and Bankruptcy Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397438