https://www.taxtmi.com/caselaws?id=462976 The NCLAT allowed the appeal and set aside the impugned order, approving the settlement between the parties under Rule 11 of the NCLAT Rules, 2016. The appellant's contention of round-tripping was not substantiated with evidence, and the funds offered by the ex-promoter/director were confirmed not to originate from the corporate debtor or creditor disbursements. The tribunal noted the settlement was reached before the CoC constitution, with the source of funds disclosed and the applicant's interests safeguarded by the Adjudicating Authority. Given the undertaking and affidavit filed, the court found it appropriate to uphold the compromise, emphasizing the importance of early settlement in such disputes. en-us Fri, 02 Aug 2024 00:00:00 +0530 Tue, 29 Jul 2025 20:09:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462976 The NCLAT allowed the appeal and set aside the impugned order, approving the settlement between the parties under Rule 11 of the NCLAT Rules, 2016. The appellant's contention of round-tripping was not substantiated with evidence, and the funds offered by the ex-promoter/director were confirmed not to originate from the corporate debtor or creditor disbursements. The tribunal noted the settlement was reached before the CoC constitution, with the source of funds disclosed and the applicant's interests safeguarded by the Adjudicating Authority. Given the undertaking and affidavit filed, the court found it appropriate to uphold the compromise, emphasizing the importance of early settlement in such disputes. Case-Laws IBC Fri, 02 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462976