https://www.taxtmi.com/caselaws?id=297259 The Tribunal ordered the continuation of the Corporate Insolvency Resolution Process (CIRP) against a company despite settlement attempts, emphasizing the importance of consulting the Committee of Creditors (CoC) before withdrawal. The Financial Creditor's objection to withdrawal was upheld, citing potential harm to other creditors. The Tribunal directed the Interim Resolution Professional (IRP) to proceed with the process, vacating the stay order on CoC meetings. The judgment highlighted the collective nature of CIRP proceedings and required compliance with the Insolvency and Bankruptcy Code, 2016. en-us Mon, 02 Dec 2019 00:00:00 +0530 Wed, 25 Aug 2021 09:06:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297259 The Tribunal ordered the continuation of the Corporate Insolvency Resolution Process (CIRP) against a company despite settlement attempts, emphasizing the importance of consulting the Committee of Creditors (CoC) before withdrawal. The Financial Creditor's objection to withdrawal was upheld, citing potential harm to other creditors. The Tribunal directed the Interim Resolution Professional (IRP) to proceed with the process, vacating the stay order on CoC meetings. The judgment highlighted the collective nature of CIRP proceedings and required compliance with the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297259