https://www.taxtmi.com/caselaws?id=432555 The appeal filed by the Appellant, a promoter of the Corporate Debtor, was deemed not maintainable as the Appellant was not considered an "aggrieved person." The restoration of the application by the Adjudicating Authority was found valid, and the application of Section 10A of the IBC was deemed inapplicable due to the default date preceding the COVID-19 period. The existence of debt and default by the Corporate Debtor was established, justifying the initiation of CIRP. The failure of the One Time Settlement proposal led to the dismissal of the appeal, with the Tribunal upholding the Adjudicating Authority's order. en-us Fri, 06 Jan 2023 00:00:00 +0530 Sun, 08 Jan 2023 21:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432555 The appeal filed by the Appellant, a promoter of the Corporate Debtor, was deemed not maintainable as the Appellant was not considered an "aggrieved person." The restoration of the application by the Adjudicating Authority was found valid, and the application of Section 10A of the IBC was deemed inapplicable due to the default date preceding the COVID-19 period. The existence of debt and default by the Corporate Debtor was established, justifying the initiation of CIRP. The failure of the One Time Settlement proposal led to the dismissal of the appeal, with the Tribunal upholding the Adjudicating Authority's order. Case-Laws Insolvency and Bankruptcy Fri, 06 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432555