https://www.taxtmi.com/caselaws?id=776752 NCLAT (PB) upheld the Adjudicating Authority's admission of the Section 7 application and dismissed the appeal, directing CIRP to proceed under the I&B Code and CIRP Regulations, 2016. The Tribunal found the IBC regime exclusive for resolution of the corporate debtor, including real estate entities. Multiple OTS proposals from the appellant and investors were considered but ultimately rejected by the consortium of banks; a prior OTS had been cancelled for non-compliance. Interim orders delaying constitution of the CoC were extended during negotiations, but refusal of settlement by the financial creditors requires continuation of CIRP. en-us Wed, 13 Aug 2025 00:00:00 +0530 Tue, 19 Aug 2025 08:38:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776752 NCLAT (PB) upheld the Adjudicating Authority's admission of the Section 7 application and dismissed the appeal, directing CIRP to proceed under the I&B Code and CIRP Regulations, 2016. The Tribunal found the IBC regime exclusive for resolution of the corporate debtor, including real estate entities. Multiple OTS proposals from the appellant and investors were considered but ultimately rejected by the consortium of banks; a prior OTS had been cancelled for non-compliance. Interim orders delaying constitution of the CoC were extended during negotiations, but refusal of settlement by the financial creditors requires continuation of CIRP. Case-Laws IBC Wed, 13 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776752