https://www.taxtmi.com/caselaws?id=449941 The appeal challenging the CIRP initiation against a NBFC was upheld, with the Adjudicating Authority setting aside the CIRP due to the NBFC's classification. The imposed costs on the Financial Creditor were modified, and the Resolution Professional's contempt application was closed. The appeal resolved issues concerning CIRP commencement, cost imposition, and cost resolution in CIRP proceedings. en-us Wed, 21 Feb 2024 00:00:00 +0530 Fri, 23 Feb 2024 08:23:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449941 The appeal challenging the CIRP initiation against a NBFC was upheld, with the Adjudicating Authority setting aside the CIRP due to the NBFC's classification. The imposed costs on the Financial Creditor were modified, and the Resolution Professional's contempt application was closed. The appeal resolved issues concerning CIRP commencement, cost imposition, and cost resolution in CIRP proceedings. Case-Laws Insolvency and Bankruptcy Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449941