https://www.taxtmi.com/caselaws?id=307923 The Appellants, as Financial Creditors, had their application for the revival of the Corporate Insolvency Resolution Process (CIRP) rejected by the Adjudicating Authority. The rejection was upheld as the CIRP was terminated following a settlement between the parties, which was not incorporated into the order. The absence of the settlement terms in the order prevented the Financial Creditors from seeking restoration of the CIRP. The Appellate Tribunal affirmed the decision, stating that without a legal basis for restoration, the appeal lacked merit. The dismissal allowed the Appellants to pursue alternative remedies outside the CIRP process. en-us Fri, 12 Feb 2021 00:00:00 +0530 Wed, 17 May 2023 08:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307923 The Appellants, as Financial Creditors, had their application for the revival of the Corporate Insolvency Resolution Process (CIRP) rejected by the Adjudicating Authority. The rejection was upheld as the CIRP was terminated following a settlement between the parties, which was not incorporated into the order. The absence of the settlement terms in the order prevented the Financial Creditors from seeking restoration of the CIRP. The Appellate Tribunal affirmed the decision, stating that without a legal basis for restoration, the appeal lacked merit. The dismissal allowed the Appellants to pursue alternative remedies outside the CIRP process. Case-Laws Insolvency and Bankruptcy Fri, 12 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307923