https://www.taxtmi.com/caselaws?id=438352 The Tribunal set aside the decision declaring the Appellant ineligible under Section 29A of the Insolvency and Bankruptcy Code, finding that the Appellant was not a willful defaulter at the relevant times. Despite the liquidation order, the Tribunal allowed the Appellant to propose a compromise or arrangement under the Companies Act within 30 days, with the Liquidator to consider it within 60 days. The liquidation process was put on hold for 90 days for this purpose, with proceedings to continue if no arrangement was approved within the specified timeframe. en-us Thu, 25 May 2023 00:00:00 +0530 Tue, 30 May 2023 09:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438352 The Tribunal set aside the decision declaring the Appellant ineligible under Section 29A of the Insolvency and Bankruptcy Code, finding that the Appellant was not a willful defaulter at the relevant times. Despite the liquidation order, the Tribunal allowed the Appellant to propose a compromise or arrangement under the Companies Act within 30 days, with the Liquidator to consider it within 60 days. The liquidation process was put on hold for 90 days for this purpose, with proceedings to continue if no arrangement was approved within the specified timeframe. Case-Laws Insolvency and Bankruptcy Thu, 25 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438352