https://www.taxtmi.com/caselaws?id=296396 A Section 9 insolvency admission may be set aside where the parties have entered into a full and final settlement before the Committee of Creditors is constituted. The note states that, because the operational creditor accepted the compromise and the record showed the settlement preceded constitution of the CoC, the Appellate Tribunal could invoke its inherent powers under Rule 11 of the NCLAT Rules, 2016 to give effect to the settlement. The insolvency application was treated as withdrawn and the corporate insolvency process was brought to an end. 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 A Section 9 insolvency admission may be set aside where the parties have entered into a full and final settlement before the Committee of Creditors is constituted. The note states that, because the operational creditor accepted the compromise and the record showed the settlement preceded constitution of the CoC, the Appellate Tribunal could invoke its inherent powers under Rule 11 of the NCLAT Rules, 2016 to give effect to the settlement. The insolvency application was treated as withdrawn and the corporate insolvency process was brought to an end. Case-Laws Insolvency and Bankruptcy Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296396