https://www.taxtmi.com/caselaws?id=297543 The Tribunal admitted the application for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for defaulting on a payment. A settlement agreement was reached where the Corporate Debtor agreed to pay a reduced sum, with specific payment dates. The Tribunal disposed of the initial application, allowing the Financial Creditor to file a fresh application if the terms were not met. The judgment emphasized the importance of honoring settlement agreements in insolvency matters and provided a recourse for the Financial Creditor if the Corporate Debtor failed to adhere to the settlement terms. en-us Thu, 24 Sep 2020 00:00:00 +0530 Fri, 10 Sep 2021 02:19:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297543 The Tribunal admitted the application for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for defaulting on a payment. A settlement agreement was reached where the Corporate Debtor agreed to pay a reduced sum, with specific payment dates. The Tribunal disposed of the initial application, allowing the Financial Creditor to file a fresh application if the terms were not met. The judgment emphasized the importance of honoring settlement agreements in insolvency matters and provided a recourse for the Financial Creditor if the Corporate Debtor failed to adhere to the settlement terms. Case-Laws Insolvency and Bankruptcy Thu, 24 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297543