https://www.taxtmi.com/caselaws?id=399420 The Tribunal dismissed the Application seeking modification of an order to include distribution of sale proceeds to employees during Corporate Insolvency Resolution Process (CIRP). It upheld the decision to sell a property to settle dues, complying with the Insolvency and Bankruptcy Code (IBC). The Tribunal emphasized that no provision allows for interim payments to employees during CIRP and that the order under challenge could not be modified due to a pending appeal. en-us Thu, 08 Oct 2020 00:00:00 +0530 Fri, 09 Oct 2020 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399420 The Tribunal dismissed the Application seeking modification of an order to include distribution of sale proceeds to employees during Corporate Insolvency Resolution Process (CIRP). It upheld the decision to sell a property to settle dues, complying with the Insolvency and Bankruptcy Code (IBC). The Tribunal emphasized that no provision allows for interim payments to employees during CIRP and that the order under challenge could not be modified due to a pending appeal. Case-Laws Insolvency and Bankruptcy Thu, 08 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399420