https://www.taxtmi.com/caselaws?id=300018 The Appellate Tribunal set aside the liquidation order against the Corporate Debtor, allowing the appellant to withdraw the application under Section 7. The Corporate Insolvency Resolution Process was terminated, subject to payment to stakeholders/creditors. The Tribunal upheld the Enforcement Directorate's actions under the Prevention of Money Laundering Act. Various authorities were permitted to proceed against the Company, Promoters, Shareholders, or Directors. Failure to comply with the order under Section 12A would result in the restoration of the liquidation order. Promoters/Shareholders/Directors could pay dues individually, with funds verified by the Enforcement Directorate. The Resolution Professional would continue based on payment compliance. en-us Mon, 18 Nov 2019 00:00:00 +0530 Sat, 08 Jan 2022 09:46:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300018 The Appellate Tribunal set aside the liquidation order against the Corporate Debtor, allowing the appellant to withdraw the application under Section 7. The Corporate Insolvency Resolution Process was terminated, subject to payment to stakeholders/creditors. The Tribunal upheld the Enforcement Directorate's actions under the Prevention of Money Laundering Act. Various authorities were permitted to proceed against the Company, Promoters, Shareholders, or Directors. Failure to comply with the order under Section 12A would result in the restoration of the liquidation order. Promoters/Shareholders/Directors could pay dues individually, with funds verified by the Enforcement Directorate. The Resolution Professional would continue based on payment compliance. Case-Laws Insolvency and Bankruptcy Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300018