https://www.taxtmi.com/caselaws?id=788944 On settlement of the insolvency dispute and withdrawal of the section 7 petition under section 12A of the Insolvency and Bankruptcy Code, the deposited fixed deposit amount, together with accrued interest, could be released to the financial creditor in terms of the settlement agreement. The Appellate Tribunal noted that the Adjudicating Authority had already allowed the section 12A application, dismissed the petition as withdrawn, and directed payment to the financial creditor, while the earlier tribunal order contemplated compliance with that direction. As there was no objection from the suspended director, the lien on the deposit was removed and release of the amount was permitted. en-us Mon, 30 Mar 2026 00:00:00 +0530 Wed, 01 Apr 2026 07:51:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788944 On settlement of the insolvency dispute and withdrawal of the section 7 petition under section 12A of the Insolvency and Bankruptcy Code, the deposited fixed deposit amount, together with accrued interest, could be released to the financial creditor in terms of the settlement agreement. The Appellate Tribunal noted that the Adjudicating Authority had already allowed the section 12A application, dismissed the petition as withdrawn, and directed payment to the financial creditor, while the earlier tribunal order contemplated compliance with that direction. As there was no objection from the suspended director, the lien on the deposit was removed and release of the amount was permitted. Case-Laws IBC Mon, 30 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788944