https://www.taxtmi.com/caselaws?id=416936 A Section 9 IBC petition was treated as maintainable after earlier CIRP withdrawal because the debt and default findings had already attained finality. The settlement memorandum, forming part of the withdrawal arrangement, provided that on later default the operational creditor could pursue civil and criminal remedies, including reopening the earlier CIRP or filing a fresh petition. In that setting, the absence of an express recital granting leave did not bar a renewed insolvency action on subsequent default. The objection based on alleged claim inflation was not re-examined because debt and default had already been adjudicated; the CIRP admission was therefore upheld. en-us Thu, 30 Dec 2021 00:00:00 +0530 Wed, 12 Jan 2022 08:38:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416936 A Section 9 IBC petition was treated as maintainable after earlier CIRP withdrawal because the debt and default findings had already attained finality. The settlement memorandum, forming part of the withdrawal arrangement, provided that on later default the operational creditor could pursue civil and criminal remedies, including reopening the earlier CIRP or filing a fresh petition. In that setting, the absence of an express recital granting leave did not bar a renewed insolvency action on subsequent default. The objection based on alleged claim inflation was not re-examined because debt and default had already been adjudicated; the CIRP admission was therefore upheld. Case-Laws Insolvency and Bankruptcy Thu, 30 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416936