https://www.taxtmi.com/caselaws?id=442177 The Tribunal awaited the outcome of a Scheme of Arrangement before proceeding with the admission of a Section 7 application by Canara Bank, emphasizing asset monetization. Canara Bank accepted a One Time Settlement proposal from the Corporate Debtor, leading to the closure of Corporate Insolvency Resolution Process proceedings. Intervention applications by SRS Private Investments Powai Ltd. and ICICI Bank were considered unnecessary due to the OTS acceptance, resulting in the closure of proceedings. The Tribunal directed the Appellant to pay fees and expenses within two weeks. en-us Thu, 24 Aug 2023 00:00:00 +0530 Sat, 26 Aug 2023 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442177 The Tribunal awaited the outcome of a Scheme of Arrangement before proceeding with the admission of a Section 7 application by Canara Bank, emphasizing asset monetization. Canara Bank accepted a One Time Settlement proposal from the Corporate Debtor, leading to the closure of Corporate Insolvency Resolution Process proceedings. Intervention applications by SRS Private Investments Powai Ltd. and ICICI Bank were considered unnecessary due to the OTS acceptance, resulting in the closure of proceedings. The Tribunal directed the Appellant to pay fees and expenses within two weeks. Case-Laws Insolvency and Bankruptcy Thu, 24 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442177