https://www.taxtmi.com/caselaws?id=441880 The Tribunal upheld the maintainability of the main petition under Section 7 of the Insolvency and Bankruptcy Code, finding no discrepancies in the Power of Attorney. It ruled that the appellant was not denied natural justice as hearings were conducted, and both parties were heard. The establishment of debt and default by the Corporate Debtor was confirmed, rejecting claims of fraudulent signatures. The Tribunal clarified that the Vidarbha Industries Power Ltd. decision was not applicable as a general rule. Additionally, it determined that the Financial Creditor being under CIRP did not bar it from initiating CIRP against the Corporate Debtor. The appeal was dismissed, affirming the Corporate Debtor's admission into CIRP. en-us Thu, 17 Aug 2023 00:00:00 +0530 Fri, 18 Aug 2023 22:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441880 The Tribunal upheld the maintainability of the main petition under Section 7 of the Insolvency and Bankruptcy Code, finding no discrepancies in the Power of Attorney. It ruled that the appellant was not denied natural justice as hearings were conducted, and both parties were heard. The establishment of debt and default by the Corporate Debtor was confirmed, rejecting claims of fraudulent signatures. The Tribunal clarified that the Vidarbha Industries Power Ltd. decision was not applicable as a general rule. Additionally, it determined that the Financial Creditor being under CIRP did not bar it from initiating CIRP against the Corporate Debtor. The appeal was dismissed, affirming the Corporate Debtor's admission into CIRP. Case-Laws Insolvency and Bankruptcy Thu, 17 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441880