https://www.taxtmi.com/caselaws?id=760228 NCLAT dismissed the appeal challenging avoidance transaction proceedings under IBC Sections 43, 45, 66. Appellants claimed violation of natural justice and lack of fair hearing opportunity. NCLAT found that transaction audit report was shared with appellants who raised no objections. Despite being given opportunities to appear and file replies, appellants failed to participate in proceedings. Court held appellants cannot claim denial of natural justice when they themselves failed to utilize given opportunities, applying precedent from GVR Consulting Services case. en-us Thu, 04 Apr 2024 00:00:00 +0530 Thu, 17 Oct 2024 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760228 NCLAT dismissed the appeal challenging avoidance transaction proceedings under IBC Sections 43, 45, 66. Appellants claimed violation of natural justice and lack of fair hearing opportunity. NCLAT found that transaction audit report was shared with appellants who raised no objections. Despite being given opportunities to appear and file replies, appellants failed to participate in proceedings. Court held appellants cannot claim denial of natural justice when they themselves failed to utilize given opportunities, applying precedent from GVR Consulting Services case. Case-Laws IBC Thu, 04 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760228