https://www.taxtmi.com/caselaws?id=302011 The National Company Law Tribunal, Chennai, dismissed an application seeking to declare applications filed under Sections 7 and 95 of the Insolvency and Bankruptcy Code, 2016 as having malicious intent. The Tribunal emphasized its inability to compel the Financial Creditor to accept or reject an One Time Settlement (OTS) proposal, stating that non-acceptance does not hinder the Tribunal's jurisdiction. The decision underscores the Tribunal's limited authority in influencing OTS proposals and highlights the significance of adhering to statutory timelines and maintaining the separation of powers between the Tribunal and the Committee of Creditors in insolvency proceedings. en-us Fri, 04 Feb 2022 00:00:00 +0530 Fri, 29 Apr 2022 20:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302011 The National Company Law Tribunal, Chennai, dismissed an application seeking to declare applications filed under Sections 7 and 95 of the Insolvency and Bankruptcy Code, 2016 as having malicious intent. The Tribunal emphasized its inability to compel the Financial Creditor to accept or reject an One Time Settlement (OTS) proposal, stating that non-acceptance does not hinder the Tribunal's jurisdiction. The decision underscores the Tribunal's limited authority in influencing OTS proposals and highlights the significance of adhering to statutory timelines and maintaining the separation of powers between the Tribunal and the Committee of Creditors in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Fri, 04 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302011