https://www.taxtmi.com/caselaws?id=442073 The Tribunal dismissed both appeals, affirming that the Corporate Insolvency Resolution Process (CIRP) should continue due to the Corporate Debtor's repeated defaults, significant claims from Homebuyers, and the necessity for a comprehensive insolvency resolution process. Despite attempts to settle the debt and close the CIRP, the Adjudicating Authority emphasized the importance of upholding the Settlement Agreement and rejected the application for closure, stating that the CIRP should proceed given the Corporate Debtor's history of defaults and substantial liabilities. en-us Wed, 23 Aug 2023 00:00:00 +0530 Wed, 23 Aug 2023 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442073 The Tribunal dismissed both appeals, affirming that the Corporate Insolvency Resolution Process (CIRP) should continue due to the Corporate Debtor's repeated defaults, significant claims from Homebuyers, and the necessity for a comprehensive insolvency resolution process. Despite attempts to settle the debt and close the CIRP, the Adjudicating Authority emphasized the importance of upholding the Settlement Agreement and rejected the application for closure, stating that the CIRP should proceed given the Corporate Debtor's history of defaults and substantial liabilities. Case-Laws Insolvency and Bankruptcy Wed, 23 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442073