https://www.taxtmi.com/caselaws?id=296391 Where a corporate insolvency resolution process is settled before constitution of the Committee of Creditors, the appellate tribunal may invoke its inherent powers to set aside the admission order and treat the insolvency application as withdrawn, particularly when the operational creditor has received the agreed payments and the corporate debtor remains a going concern. The text also notes that the Interim Resolution Professional's fee and incidental expenses may still be assessed for the period of actual function, with reasonable amounts allowed after adjusting sums already paid. en-us Fri, 20 Dec 2019 00:00:00 +0530 Mon, 19 Jul 2021 10:22:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296391 Where a corporate insolvency resolution process is settled before constitution of the Committee of Creditors, the appellate tribunal may invoke its inherent powers to set aside the admission order and treat the insolvency application as withdrawn, particularly when the operational creditor has received the agreed payments and the corporate debtor remains a going concern. The text also notes that the Interim Resolution Professional's fee and incidental expenses may still be assessed for the period of actual function, with reasonable amounts allowed after adjusting sums already paid. Case-Laws Insolvency and Bankruptcy Fri, 20 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296391