https://www.taxtmi.com/caselaws?id=425635 The National Company Law Tribunal, Kolkata Bench, dismissed the insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor made full payment of the default amount, leading to the absence of any financial debt. The Tribunal emphasized the importance of not misusing insolvency proceedings for recovery purposes and stressed the necessity of complying with all formalities before issuing a certified copy of the order to the concerned parties. en-us Mon, 18 Jul 2022 00:00:00 +0530 Wed, 27 Jul 2022 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425635 The National Company Law Tribunal, Kolkata Bench, dismissed the insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor made full payment of the default amount, leading to the absence of any financial debt. The Tribunal emphasized the importance of not misusing insolvency proceedings for recovery purposes and stressed the necessity of complying with all formalities before issuing a certified copy of the order to the concerned parties. Case-Laws Insolvency and Bankruptcy Mon, 18 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425635