https://www.taxtmi.com/caselaws?id=430560 The NCLT issued an interim order staying the formation of the CoC, thereby suspending the IRP's duties. Indian Bank's intervention was permitted, highlighting its significant financial interest. The Tribunal authorized the Corporate Debtor's CEO to manage essential payments to maintain operations. Any settlement with UCO Bank requires Tribunal approval to protect other creditors' interests. The case was adjourned for further hearing on 10/01/2023. en-us Mon, 21 Nov 2022 00:00:00 +0530 Sat, 26 Oct 2024 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430560 The NCLT issued an interim order staying the formation of the CoC, thereby suspending the IRP's duties. Indian Bank's intervention was permitted, highlighting its significant financial interest. The Tribunal authorized the Corporate Debtor's CEO to manage essential payments to maintain operations. Any settlement with UCO Bank requires Tribunal approval to protect other creditors' interests. The case was adjourned for further hearing on 10/01/2023. Case-Laws IBC Mon, 21 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430560