https://www.taxtmi.com/caselaws?id=760124 NCLAT allowed the appeal and set aside the admission order under Section 7 of the IBC, 2016 after a settlement was reached between the parties and payment was made to the creditor. The CoC constitution had been stayed for eight days, preventing the CIRP process. The disposed petition was declared revivable for creditors to pursue remedies against the corporate debtor. The tribunal directed that IRP dues could be addressed through proper application to the Adjudicating Authority, and required filing of Form FA with bank guarantee for petition withdrawal. en-us Thu, 16 May 2024 00:00:00 +0530 Tue, 15 Oct 2024 16:33:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760124 NCLAT allowed the appeal and set aside the admission order under Section 7 of the IBC, 2016 after a settlement was reached between the parties and payment was made to the creditor. The CoC constitution had been stayed for eight days, preventing the CIRP process. The disposed petition was declared revivable for creditors to pursue remedies against the corporate debtor. The tribunal directed that IRP dues could be addressed through proper application to the Adjudicating Authority, and required filing of Form FA with bank guarantee for petition withdrawal. Case-Laws IBC Thu, 16 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760124