https://www.taxtmi.com/highlights?id=74518 Initiation of CIRP - Date of default - Existence of restructuring proposals - NCLT admitted the application u/s 7 - The Tribunal found that the restructuring proposals dated 21.02.2020 and 29.09.2020 were not binding as they were not effectively implemented due to non-fulfillment of pre-implementation conditions by the Corporate Debtor. - It was also held that unilateral conditions imposed by the Appellant in their payments could not be construed as a revival or extension of the restructuring approvals. en-us Wed, 31 Jan 2024 08:25:55 +0530 Wed, 31 Jan 2024 08:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74518 Initiation of CIRP - Date of default - Existence of restructuring proposals - NCLT admitted the application u/s 7 - The Tribunal found that the restructuring proposals dated 21.02.2020 and 29.09.2020 were not binding as they were not effectively implemented due to non-fulfillment of pre-implementation conditions by the Corporate Debtor. - It was also held that unilateral conditions imposed by the Appellant in their payments could not be construed as a revival or extension of the restructuring approvals. Highlights Insolvency and Bankruptcy Wed, 31 Jan 2024 08:25:55 +0530 https://www.taxtmi.com/highlights?id=74518