https://www.taxtmi.com/caselaws?id=296224 The appeal raised issues concerning the limitation period for filing an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, and the acceptance of a One Time Settlement (OTS) proposal by the Respondent. The Tribunal directed notice to the Respondents and scheduled further hearing. Regarding the OTS proposal, the Interim Resolution Professional was instructed not to constitute the Committee of Creditors or publish advertisements, ensuring the company's continuity and managing operational activities. The judgment underscores the significance of complying with statutory timelines and effectively managing corporate affairs during the resolution phase. en-us Mon, 23 Nov 2020 00:00:00 +0530 Sat, 10 Jul 2021 08:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296224 The appeal raised issues concerning the limitation period for filing an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, and the acceptance of a One Time Settlement (OTS) proposal by the Respondent. The Tribunal directed notice to the Respondents and scheduled further hearing. Regarding the OTS proposal, the Interim Resolution Professional was instructed not to constitute the Committee of Creditors or publish advertisements, ensuring the company's continuity and managing operational activities. The judgment underscores the significance of complying with statutory timelines and effectively managing corporate affairs during the resolution phase. Case-Laws Insolvency and Bankruptcy Mon, 23 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296224