https://www.taxtmi.com/caselaws?id=417249 The National Company Law Tribunal dismissed the application seeking directions to withdraw or dismiss the case as infructuous and not maintainable. The Tribunal held that the settlement agreement between the Corporate Debtor and the Financial Creditor did not negate the occurrence of default before the moratorium period under Section 10A of the Insolvency and Bankruptcy Code, 2016. Despite compliance with the settlement terms, the case was not withdrawn, leading to disputes over additional payments and dishonored cheques. The Tribunal emphasized that the settlement agreement did not change the original default date for the case under Section 7 of the IBC, 2016. en-us Fri, 07 Jan 2022 00:00:00 +0530 Wed, 19 Jan 2022 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417249 The National Company Law Tribunal dismissed the application seeking directions to withdraw or dismiss the case as infructuous and not maintainable. The Tribunal held that the settlement agreement between the Corporate Debtor and the Financial Creditor did not negate the occurrence of default before the moratorium period under Section 10A of the Insolvency and Bankruptcy Code, 2016. Despite compliance with the settlement terms, the case was not withdrawn, leading to disputes over additional payments and dishonored cheques. The Tribunal emphasized that the settlement agreement did not change the original default date for the case under Section 7 of the IBC, 2016. Case-Laws Insolvency and Bankruptcy Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417249