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IBC - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

CIRP - Seeking revival of company - Company Petition was ...

Insolvency and Bankruptcy

May 19, 2023

CIRP - Seeking revival of company - Company Petition was disposed of taking settlement on record and when Clause 10 of the Settlement specifically contains an undertaking by the Corporate Debtor for revival, corporate debtor can not be allowed to go back from its commitment as was made in the settlement. - the Adjudicating Authority committed error in rejecting the revival application - AT

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