https://www.taxtmi.com/caselaws?id=313304 Recall applications in CIRP are maintainable only in narrow situations such as procedural error or fraud, and cannot be used as a substitute for review on merits. The admission order was passed after supersession of the board and in the presence of the Administrator, so no breach of natural justice was shown. The Adjudicating Authority was held to have jurisdiction to entertain the application under the insolvency framework for financial service providers, and the challenge based on the statutory insolvency bar was treated as an attempt to reopen the merits of admission. With appellate remedies already exhausted and the resolution plan having progressed, no ground for recall or interference was established. en-us Tue, 04 Apr 2023 00:00:00 +0530 Sat, 06 Apr 2024 05:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313304 Recall applications in CIRP are maintainable only in narrow situations such as procedural error or fraud, and cannot be used as a substitute for review on merits. The admission order was passed after supersession of the board and in the presence of the Administrator, so no breach of natural justice was shown. The Adjudicating Authority was held to have jurisdiction to entertain the application under the insolvency framework for financial service providers, and the challenge based on the statutory insolvency bar was treated as an attempt to reopen the merits of admission. With appellate remedies already exhausted and the resolution plan having progressed, no ground for recall or interference was established. Case-Laws Insolvency and Bankruptcy Tue, 04 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313304