https://www.taxtmi.com/caselaws?id=469719 Settlement reached before admission of a Section 9 application was treated as removing the subsisting default on the relevant date, so continuation of the corporate insolvency resolution process was found unwarranted. The tribunal noted that the settlement deed had been accepted by the operational creditor before the admission order was pronounced, and that the settlement had not been placed before the Adjudicating Authority in time. On that basis, the corporate insolvency resolution process was ordered to be closed, notwithstanding steps already taken by the interim resolution professional. en-us Fri, 11 Jul 2025 00:00:00 +0530 Tue, 30 Jun 2026 22:54:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469719 Settlement reached before admission of a Section 9 application was treated as removing the subsisting default on the relevant date, so continuation of the corporate insolvency resolution process was found unwarranted. The tribunal noted that the settlement deed had been accepted by the operational creditor before the admission order was pronounced, and that the settlement had not been placed before the Adjudicating Authority in time. On that basis, the corporate insolvency resolution process was ordered to be closed, notwithstanding steps already taken by the interim resolution professional. Case-Laws IBC Fri, 11 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469719