https://www.taxtmi.com/caselaws?id=782834 NCLAT dismissed the appeal, affirming the Adjudicating Authority's refusal to restore the Section 7 application. It held that, in view of the Corporate Debtor's payment of the entire Part IV claim amount, including principal and agreed interest, as recorded in the order dated 18.03.2025, the financial debt stood discharged. The Tribunal noted that pendente lite interest of Rs. 46,93,907/- was also paid and duly acknowledged on 03.05.2025. In these circumstances, initiation or revival of CIRP under Section 7 was held impermissible, as insolvency proceedings cannot be used once the admitted financial liability has been fully satisfied. en-us Fri, 12 Sep 2025 00:00:00 +0530 Fri, 05 Dec 2025 08:12:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782834 NCLAT dismissed the appeal, affirming the Adjudicating Authority's refusal to restore the Section 7 application. It held that, in view of the Corporate Debtor's payment of the entire Part IV claim amount, including principal and agreed interest, as recorded in the order dated 18.03.2025, the financial debt stood discharged. The Tribunal noted that pendente lite interest of Rs. 46,93,907/- was also paid and duly acknowledged on 03.05.2025. In these circumstances, initiation or revival of CIRP under Section 7 was held impermissible, as insolvency proceedings cannot be used once the admitted financial liability has been fully satisfied. Case-Laws IBC Fri, 12 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782834