https://www.taxtmi.com/caselaws?id=444896 NCLAT Principal Bench set aside the lower tribunal's penalty order under Section 70 of IBC, finding violation of natural justice principles. The Adjudicating Authority failed to consider applicable law and established precedents while imposing the penalty. The appellate tribunal concluded the impugned order was unsustainable due to these procedural and legal errors. Matter was remanded to NCLT New Delhi Bench Court-III for fresh consideration in accordance with law and precedents, directing appropriate order be passed after proper examination of the case. en-us Thu, 19 Oct 2023 00:00:00 +0530 Thu, 26 Oct 2023 07:27:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444896 NCLAT Principal Bench set aside the lower tribunal's penalty order under Section 70 of IBC, finding violation of natural justice principles. The Adjudicating Authority failed to consider applicable law and established precedents while imposing the penalty. The appellate tribunal concluded the impugned order was unsustainable due to these procedural and legal errors. Matter was remanded to NCLT New Delhi Bench Court-III for fresh consideration in accordance with law and precedents, directing appropriate order be passed after proper examination of the case. Case-Laws Insolvency and Bankruptcy Thu, 19 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444896