https://www.taxtmi.com/caselaws?id=405356 The Tribunal upheld the Adjudicating Authority's decision to dismiss the application for initiating Corporate Insolvency Resolution Process against the Corporate Debtor. The Settlement Agreement between the parties reduced the operational debt, with the Corporate Debtor making delayed payments. The Tribunal found that time was not of the essence in the Settlement Agreement, and since the full settlement amount was paid, the Appellant could not initiate a fresh application under Section 9 of the Insolvency and Bankruptcy Code. The appeal was dismissed, and no costs were awarded. en-us Wed, 17 Mar 2021 00:00:00 +0530 Mon, 15 Nov 2021 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405356 The Tribunal upheld the Adjudicating Authority's decision to dismiss the application for initiating Corporate Insolvency Resolution Process against the Corporate Debtor. The Settlement Agreement between the parties reduced the operational debt, with the Corporate Debtor making delayed payments. The Tribunal found that time was not of the essence in the Settlement Agreement, and since the full settlement amount was paid, the Appellant could not initiate a fresh application under Section 9 of the Insolvency and Bankruptcy Code. The appeal was dismissed, and no costs were awarded. Case-Laws Insolvency and Bankruptcy Wed, 17 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405356