Tribunal Overturns CIRP Due to Unserved Section 8 Notice Under Insolvency and Bankruptcy Code; Ensures Justice.

Initiation of CIRP - in the instant case Section 8 notice under ‘I&B’ Code was not served upon the Second Respondent / Corporate Debtor and admittedly the same got returned as mentioned Supra, this Tribunal comes to a consequent conclusion that the impugned order dated 01.01.2020 passed by the Adjudicating Authority in admitting the petition is not legally tenable and the same is accordingly set aside by this Tribunal to secure the ends of justice. - AT .....

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