https://www.taxtmi.com/highlights?id=60714 Initiation of CIRP - It is to be remembered that IBC, 2016 is not a ‘Debt Enforcement Procedure’ - the ‘proceedings’ under IBC are summary in nature and not an adversary one. Suffice it for this ‘Tribunal’ to relevantly point out that the ‘proceedings’ under IBC are not like that of a regular ‘Civil Suit’. As such, the aspects of the exorbitant interest, penal interest, purportedly imposed on the ‘Corporate Debtor’ by the Respondent No. 1/Bank are not gone into by this ‘Tribunal’ in ‘Appeal’. - AT en-us Wed, 01 Dec 2021 11:37:50 +0530 Wed, 01 Dec 2021 11:37:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60714 Initiation of CIRP - It is to be remembered that IBC, 2016 is not a ‘Debt Enforcement Procedure’ - the ‘proceedings’ under IBC are summary in nature and not an adversary one. Suffice it for this ‘Tribunal’ to relevantly point out that the ‘proceedings’ under IBC are not like that of a regular ‘Civil Suit’. As such, the aspects of the exorbitant interest, penal interest, purportedly imposed on the ‘Corporate Debtor’ by the Respondent No. 1/Bank are not gone into by this ‘Tribunal’ in ‘Appeal’. - AT Highlights Insolvency and Bankruptcy Wed, 01 Dec 2021 11:37:50 +0530 https://www.taxtmi.com/highlights?id=60714