https://www.taxtmi.com/caselaws?id=291923 An application under Section 60(5) of the Insolvency and Bankruptcy Code cannot be used to reopen an already admitted petition or to revisit limitation after commencement of CIRP. Admission of the insolvency petition is a final order at the admission stage, and the proper remedy lies in appeal under Section 61. Once that appellate route has been pursued, the Adjudicating Authority becomes functus officio in relation to the admission order, and Section 60(5) does not confer any implied power of review or authority to nullify the concluded admission. en-us Tue, 04 Jun 2019 00:00:00 +0530 Mon, 30 Nov 2020 19:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291923 An application under Section 60(5) of the Insolvency and Bankruptcy Code cannot be used to reopen an already admitted petition or to revisit limitation after commencement of CIRP. Admission of the insolvency petition is a final order at the admission stage, and the proper remedy lies in appeal under Section 61. Once that appellate route has been pursued, the Adjudicating Authority becomes functus officio in relation to the admission order, and Section 60(5) does not confer any implied power of review or authority to nullify the concluded admission. Case-Laws Insolvency and Bankruptcy Tue, 04 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291923