https://www.taxtmi.com/caselaws?id=436752 The National Company Law Appellate Tribunal upheld the order admitting the Section 9 Application filed by the Operational Creditor against the Corporate Debtor. The appeal by the Suspended Director challenging the admission was dismissed as the debt and default were proven, and no errors were found in the Adjudicating Authority's decision. Settlements between the parties were not approved by the Committee of Creditors, rendering them insufficient grounds for interference. The objection regarding the Operational Creditor's Power of Attorney holder's competence was considered removed, and claims by Intervenors did not warrant overturning the initial order. en-us Wed, 19 Apr 2023 00:00:00 +0530 Wed, 19 Apr 2023 22:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436752 The National Company Law Appellate Tribunal upheld the order admitting the Section 9 Application filed by the Operational Creditor against the Corporate Debtor. The appeal by the Suspended Director challenging the admission was dismissed as the debt and default were proven, and no errors were found in the Adjudicating Authority's decision. Settlements between the parties were not approved by the Committee of Creditors, rendering them insufficient grounds for interference. The objection regarding the Operational Creditor's Power of Attorney holder's competence was considered removed, and claims by Intervenors did not warrant overturning the initial order. Case-Laws Insolvency and Bankruptcy Wed, 19 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436752