https://www.taxtmi.com/caselaws?id=422320 The Tribunal allowed the application for restoration and reopening of the Corporate Insolvency Resolution Process against the Corporate Debtor due to default in complying with settlement terms outlined in the Memorandum of Understanding. The Tribunal rejected the contention for filing a fresh petition, emphasizing the permissibility of restoration under Rule 11 of NCLT Rules. The decision was supported by case law analysis, granting the Applicant entitlement to claim the amount post-restoration of the petition. en-us Thu, 28 Apr 2022 00:00:00 +0530 Fri, 13 May 2022 07:50:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422320 The Tribunal allowed the application for restoration and reopening of the Corporate Insolvency Resolution Process against the Corporate Debtor due to default in complying with settlement terms outlined in the Memorandum of Understanding. The Tribunal rejected the contention for filing a fresh petition, emphasizing the permissibility of restoration under Rule 11 of NCLT Rules. The decision was supported by case law analysis, granting the Applicant entitlement to claim the amount post-restoration of the petition. Case-Laws Insolvency and Bankruptcy Thu, 28 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422320