https://www.taxtmi.com/caselaws?id=299068 The Tribunal set aside the ex parte order passed by the Adjudicating Authority, ruling in favor of the appellant - Corporate Debtor. The Tribunal found a violation of natural justice principles as the Corporate Debtor was not given an opportunity to be heard before admitting the application for Corporate Insolvency Resolution Process. Additionally, the existence of a dispute between the parties prior to the notice under Section 8 of the Insolvency and Bankruptcy Code rendered the application under Section 9 not maintainable. Consequently, the impugned order was overturned, releasing the Corporate Debtor from the insolvency process and its associated restrictions. en-us Wed, 31 May 2017 00:00:00 +0530 Fri, 03 Dec 2021 08:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299068 The Tribunal set aside the ex parte order passed by the Adjudicating Authority, ruling in favor of the appellant - Corporate Debtor. The Tribunal found a violation of natural justice principles as the Corporate Debtor was not given an opportunity to be heard before admitting the application for Corporate Insolvency Resolution Process. Additionally, the existence of a dispute between the parties prior to the notice under Section 8 of the Insolvency and Bankruptcy Code rendered the application under Section 9 not maintainable. Consequently, the impugned order was overturned, releasing the Corporate Debtor from the insolvency process and its associated restrictions. Case-Laws Insolvency and Bankruptcy Wed, 31 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299068