https://www.taxtmi.com/caselaws?id=296707 The National Company Law Tribunal, Division Bench (Court-I), Chennai addressed the liberty granted to approach the Committee of Creditors (COC) for settlement under Section 12A of the Insolvency and Bankruptcy Code, 2016. The Tribunal noted the Supreme Court's order allowing the applicant to withdraw the application with liberty to approach the COC for settlement. The Tribunal directed the Resolution Professional (RP) to assess the Section 12A Application to be filed by the Corporate Debtor following the Supreme Court's directive. Additionally, the Tribunal highlighted the suspension of funds provided by HDFC Bank to the Corporate Debtor post judgment by the Supreme Court and emphasized the RP's obligation to file an affidavit detailing the COC's status. en-us Mon, 22 Mar 2021 00:00:00 +0530 Wed, 04 Aug 2021 08:33:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296707 The National Company Law Tribunal, Division Bench (Court-I), Chennai addressed the liberty granted to approach the Committee of Creditors (COC) for settlement under Section 12A of the Insolvency and Bankruptcy Code, 2016. The Tribunal noted the Supreme Court's order allowing the applicant to withdraw the application with liberty to approach the COC for settlement. The Tribunal directed the Resolution Professional (RP) to assess the Section 12A Application to be filed by the Corporate Debtor following the Supreme Court's directive. Additionally, the Tribunal highlighted the suspension of funds provided by HDFC Bank to the Corporate Debtor post judgment by the Supreme Court and emphasized the RP's obligation to file an affidavit detailing the COC's status. Case-Laws Insolvency and Bankruptcy Mon, 22 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296707