https://www.taxtmi.com/caselaws?id=313351 The Tribunal dismissed the appeal for a stay on the Corporate Insolvency Resolution Process (CIRP) of the subsidiary company, affirming that the processes for the holding and subsidiary companies are distinct. It directed the Adjudicating Authority to decide promptly on the approved resolution plan for the holding company within three weeks. The Tribunal clarified that the CIRP for the subsidiary company would continue without interruption and instructed all parties to comply with legal timelines. The appeal was disposed of without costs, reinforcing the necessity for timely adjudication. en-us Wed, 16 Jan 2019 00:00:00 +0530 Tue, 09 Apr 2024 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313351 The Tribunal dismissed the appeal for a stay on the Corporate Insolvency Resolution Process (CIRP) of the subsidiary company, affirming that the processes for the holding and subsidiary companies are distinct. It directed the Adjudicating Authority to decide promptly on the approved resolution plan for the holding company within three weeks. The Tribunal clarified that the CIRP for the subsidiary company would continue without interruption and instructed all parties to comply with legal timelines. The appeal was disposed of without costs, reinforcing the necessity for timely adjudication. Case-Laws Companies Law Wed, 16 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313351