https://www.taxtmi.com/caselaws?id=426182 The Adjudicating Authority admitted the Section 7 Application under the Insolvency & Bankruptcy Code, 2016, by the Financial Creditor due to the established financial debt and default by the Corporate Debtor. The Appellate Tribunal upheld this decision, noting the rejection of previous One Time Settlement (OTS) proposals and the acknowledgment of debt by the Corporate Debtor. The Company Appeal was dismissed, affirming the Financial Creditor's successful establishment of debt and default claims, leading to the rejection of the appeal without costs. en-us Fri, 05 Aug 2022 00:00:00 +0530 Tue, 09 Aug 2022 08:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426182 The Adjudicating Authority admitted the Section 7 Application under the Insolvency & Bankruptcy Code, 2016, by the Financial Creditor due to the established financial debt and default by the Corporate Debtor. The Appellate Tribunal upheld this decision, noting the rejection of previous One Time Settlement (OTS) proposals and the acknowledgment of debt by the Corporate Debtor. The Company Appeal was dismissed, affirming the Financial Creditor's successful establishment of debt and default claims, leading to the rejection of the appeal without costs. Case-Laws Insolvency and Bankruptcy Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426182