https://www.taxtmi.com/caselaws?id=292000 The appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was successful. The court found that the application was not maintainable as there was a pending suit before the demand notice and application were made. The order admitting the application was set aside, and the Corporate Debtor was released from insolvency proceedings. Financial or Operational Creditors were allowed to file fresh applications independently. All previous orders related to insolvency proceedings were deemed illegal and set aside, allowing the Corporate Debtor to operate freely. en-us Thu, 08 Mar 2018 00:00:00 +0530 Thu, 03 Dec 2020 19:31:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292000 The appeal against the admission of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was successful. The court found that the application was not maintainable as there was a pending suit before the demand notice and application were made. The order admitting the application was set aside, and the Corporate Debtor was released from insolvency proceedings. Financial or Operational Creditors were allowed to file fresh applications independently. All previous orders related to insolvency proceedings were deemed illegal and set aside, allowing the Corporate Debtor to operate freely. Case-Laws Insolvency and Bankruptcy Thu, 08 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292000