https://www.taxtmi.com/caselaws?id=414697 The Court held that the Corporate Creditors (R3 and R4) were not required to wait for the Review process initiated by the Appellant Company before proceeding under the Insolvency and Bankruptcy Code (IBC). It was determined that the unilateral invocation of the IBC by R3 and R4 was proper, as it did not violate the restructuring proposal or the Company's rights. The Court directed the Commission to adjudicate the Review Petition promptly and instructed R3 and R4 to address the Tariff Order in a second Consortium Meeting with the Appellant Company. en-us Thu, 07 Oct 2021 00:00:00 +0530 Mon, 15 Nov 2021 09:08:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414697 The Court held that the Corporate Creditors (R3 and R4) were not required to wait for the Review process initiated by the Appellant Company before proceeding under the Insolvency and Bankruptcy Code (IBC). It was determined that the unilateral invocation of the IBC by R3 and R4 was proper, as it did not violate the restructuring proposal or the Company's rights. The Court directed the Commission to adjudicate the Review Petition promptly and instructed R3 and R4 to address the Tariff Order in a second Consortium Meeting with the Appellant Company. Case-Laws Insolvency and Bankruptcy Thu, 07 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414697