https://www.taxtmi.com/caselaws?id=450785 NCLAT set aside the Section 7 petition admission order due to violation of natural justice principles. The appellant was not provided adequate opportunity to examine or rebut financial statements filed by the CA before the Adjudicating Authority. The tribunal held that adherence to natural justice is essential for fair adjudication, requiring parties to have real and effective opportunity to peruse all material relied upon against them. The CIRP initiation order, appointment of Interim Resolution Professional, and all subsequent orders were set aside. Appeal allowed. en-us Tue, 12 Mar 2024 00:00:00 +0530 Wed, 13 Mar 2024 08:42:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450785 NCLAT set aside the Section 7 petition admission order due to violation of natural justice principles. The appellant was not provided adequate opportunity to examine or rebut financial statements filed by the CA before the Adjudicating Authority. The tribunal held that adherence to natural justice is essential for fair adjudication, requiring parties to have real and effective opportunity to peruse all material relied upon against them. The CIRP initiation order, appointment of Interim Resolution Professional, and all subsequent orders were set aside. Appeal allowed. Case-Laws Insolvency and Bankruptcy Tue, 12 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450785