https://www.taxtmi.com/caselaws?id=307926 The National Company Law Appellate Tribunal, New Delhi, declined to interfere in the appeal despite a settlement between the parties, as an Intervention Application by a creditor was pending. The Tribunal directed the handing over of assets and records of the Corporate Debtor and outlined procedures for bank account operations. It allowed the IRP to proceed with CIRP but postponed constituting the Committee of Creditors. Parties were given time to settle under Section 12-A of IBC, emphasizing prompt decision-making. The Tribunal scheduled an 'Admission Hearing' and provided detailed directives for orderly resolution of the case. en-us Wed, 18 Aug 2021 00:00:00 +0530 Wed, 17 May 2023 08:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307926 The National Company Law Appellate Tribunal, New Delhi, declined to interfere in the appeal despite a settlement between the parties, as an Intervention Application by a creditor was pending. The Tribunal directed the handing over of assets and records of the Corporate Debtor and outlined procedures for bank account operations. It allowed the IRP to proceed with CIRP but postponed constituting the Committee of Creditors. Parties were given time to settle under Section 12-A of IBC, emphasizing prompt decision-making. The Tribunal scheduled an 'Admission Hearing' and provided detailed directives for orderly resolution of the case. Case-Laws Insolvency and Bankruptcy Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307926