https://www.taxtmi.com/caselaws?id=408299 The Tribunal allowed the application (IA No. 446/KB/2021), leading to the disposal of the underlying Company Petition (CP No. 432/KB/2019) and all pending applications related to the matter. The settlement agreement between the Applicant and the Corporate Debtor involved the payment of Rs. 14.83 crore by the members of the suspended board of directors to the Applicant, exceeding the amount specified in the approved Resolution Plan. The CoC unanimously approved the withdrawal of the Company Petition, and the settlement amount was paid, along with the CIRP expenses. en-us Fri, 07 May 2021 00:00:00 +0530 Mon, 07 Jun 2021 08:36:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408299 The Tribunal allowed the application (IA No. 446/KB/2021), leading to the disposal of the underlying Company Petition (CP No. 432/KB/2019) and all pending applications related to the matter. The settlement agreement between the Applicant and the Corporate Debtor involved the payment of Rs. 14.83 crore by the members of the suspended board of directors to the Applicant, exceeding the amount specified in the approved Resolution Plan. The CoC unanimously approved the withdrawal of the Company Petition, and the settlement amount was paid, along with the CIRP expenses. Case-Laws Companies Law Fri, 07 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408299