https://www.taxtmi.com/caselaws?id=436192 The Tribunal set aside the Adjudicating Authority's dismissal of the Section 9 application under the Insolvency and Bankruptcy Code. It directed the Corporate Debtor to release Rs.12,72,741.74 to the Operational Creditor within 30 days, warning that failure to comply would lead to commencement of Corporate Insolvency Resolution Process (CIRP). If the Operational Creditor declines the payment, the Section 9 petition would be dismissed. No costs were awarded. en-us Wed, 05 Apr 2023 00:00:00 +0530 Fri, 07 Apr 2023 08:42:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436192 The Tribunal set aside the Adjudicating Authority's dismissal of the Section 9 application under the Insolvency and Bankruptcy Code. It directed the Corporate Debtor to release Rs.12,72,741.74 to the Operational Creditor within 30 days, warning that failure to comply would lead to commencement of Corporate Insolvency Resolution Process (CIRP). If the Operational Creditor declines the payment, the Section 9 petition would be dismissed. No costs were awarded. Case-Laws Insolvency and Bankruptcy Wed, 05 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436192