https://www.taxtmi.com/caselaws?id=429029 The tribunal upheld the validity of the Section 7 Application filed by the Financial Creditor, dismissing the appeal of the Suspended Director of the Corporate Debtor. It was determined that the application was properly filed by an authorized person, as the Power of Attorney supported by a Board Resolution constituted sufficient authorization. The tribunal clarified that the pending One Time Settlement (OTS) proposal could still be considered under Section 12A of the Insolvency and Bankruptcy Code if accepted by the Financial Creditor. en-us Fri, 14 Oct 2022 00:00:00 +0530 Mon, 17 Oct 2022 05:06:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429029 The tribunal upheld the validity of the Section 7 Application filed by the Financial Creditor, dismissing the appeal of the Suspended Director of the Corporate Debtor. It was determined that the application was properly filed by an authorized person, as the Power of Attorney supported by a Board Resolution constituted sufficient authorization. The tribunal clarified that the pending One Time Settlement (OTS) proposal could still be considered under Section 12A of the Insolvency and Bankruptcy Code if accepted by the Financial Creditor. Case-Laws Insolvency and Bankruptcy Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429029