https://www.taxtmi.com/caselaws?id=774778 NCLAT upheld NCLT's order allowing Financial Creditor's petition to revive original corporate insolvency proceedings against Corporate Debtor. Corporate Debtor challenged the revival order, arguing settlement agreement existed. NCLAT found Corporate Debtor admitted non-compliance with settlement terms and failed to discharge payment obligations. Court held that breach of settlement terms entitled Financial Creditor to seek revival of original petition, as denial would prejudice creditor's rights while giving undue benefit to defaulting debtor. Appeal dismissed. en-us Wed, 09 Jul 2025 00:00:00 +0530 Mon, 14 Jul 2025 10:26:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774778 NCLAT upheld NCLT's order allowing Financial Creditor's petition to revive original corporate insolvency proceedings against Corporate Debtor. Corporate Debtor challenged the revival order, arguing settlement agreement existed. NCLAT found Corporate Debtor admitted non-compliance with settlement terms and failed to discharge payment obligations. Court held that breach of settlement terms entitled Financial Creditor to seek revival of original petition, as denial would prejudice creditor's rights while giving undue benefit to defaulting debtor. Appeal dismissed. Case-Laws IBC Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774778