https://www.taxtmi.com/caselaws?id=293904 A concluded settlement between the parties may be acted upon in insolvency appellate proceedings under the Tribunal's inherent powers, resulting in withdrawal of the section 9 application and termination of the insolvency process. The operational creditor placed the settlement on record and sought withdrawal, while the corporate debtor undertook to honour the agreed cheque payments and IRP costs. On that basis, the Tribunal accepted the memorandum of understanding, set aside the order admitting the section 9 application, and permitted withdrawal. Liberty was reserved to seek revival if default occurs under the settlement. en-us Fri, 13 Mar 2020 00:00:00 +0530 Wed, 27 Oct 2021 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293904 A concluded settlement between the parties may be acted upon in insolvency appellate proceedings under the Tribunal's inherent powers, resulting in withdrawal of the section 9 application and termination of the insolvency process. The operational creditor placed the settlement on record and sought withdrawal, while the corporate debtor undertook to honour the agreed cheque payments and IRP costs. On that basis, the Tribunal accepted the memorandum of understanding, set aside the order admitting the section 9 application, and permitted withdrawal. Liberty was reserved to seek revival if default occurs under the settlement. Case-Laws Insolvency and Bankruptcy Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293904