https://www.taxtmi.com/caselaws?id=761566 The Appellate Tribunal partially allowed the appeal, overturning the Adjudicating Authority's decision. It determined that the adjustment of the security amount by the Appellant was permissible under Regulation 29 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The Tribunal clarified that mutual credits and set-off are allowed, correcting the misinterpretation of a Supreme Court judgment by the Adjudicating Authority. The Tribunal emphasized the Appellant's correct stance on set-off of mutual dealings, rendering the prior order unsustainable. en-us Fri, 08 Nov 2024 00:00:00 +0530 Tue, 12 Nov 2024 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761566 The Appellate Tribunal partially allowed the appeal, overturning the Adjudicating Authority's decision. It determined that the adjustment of the security amount by the Appellant was permissible under Regulation 29 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The Tribunal clarified that mutual credits and set-off are allowed, correcting the misinterpretation of a Supreme Court judgment by the Adjudicating Authority. The Tribunal emphasized the Appellant's correct stance on set-off of mutual dealings, rendering the prior order unsustainable. Case-Laws IBC Fri, 08 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761566