https://www.taxtmi.com/caselaws?id=296396 Settlement reached before constitution of the Committee of Creditors can support setting aside admission of an operational creditor's insolvency application through inherent powers under Rule 11 of the NCLAT Rules. Where the settlement is full and final, accepted by the operational creditor, and predates Committee of Creditors constitution, continuation of the insolvency process is unnecessary. The admission order may be set aside, the Section 9 application treated as withdrawn, and insolvency proceedings against the corporate debtor terminated. en-us Fri, 07 Feb 2020 00:00:00 +0530 Mon, 19 Jul 2021 10:22:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296396 Settlement reached before constitution of the Committee of Creditors can support setting aside admission of an operational creditor's insolvency application through inherent powers under Rule 11 of the NCLAT Rules. Where the settlement is full and final, accepted by the operational creditor, and predates Committee of Creditors constitution, continuation of the insolvency process is unnecessary. The admission order may be set aside, the Section 9 application treated as withdrawn, and insolvency proceedings against the corporate debtor terminated. Case-Laws Insolvency and Bankruptcy Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296396