• COURTNCLAT Chennai Bench
• TITLE/CORAM M/S ICICI BANK LIMITED v. M/S OPTO CIRCUITS LIMITED AND ORS. Judicial Member M. Venugopal
  Technical Member KanthiNarahari
  Company Appeal (AT) (CH) (Insolvency) No. 146 of 2021
  

ICICI Bank filed an appeal before NCLAT Chennai under Section 61 of the Insolvency & Bankruptcy Code, 2016 against the order dated 17.08.2020 of NCLT Bengaluru wherein it has allowed the withdrawal of IBC petition but instead of giving liberty to revive the CIRP granted liberty to file a freshpetition under IBC against OPTO Circuits (India). The Appellate Tribunal held that Corporate Insolvency Resolution Process (CIRP) can be revive/resume in case of failure of settlement agreement between the parties.