TaxTMI Login
AI Drafter - (New and Powerful) ✕
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Just a moment...
AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether the application filed by the corporate applicant under section 10 of the Insolvency and Bankruptcy Code, 2016 was complete, discloses a debt and default above the statutory threshold, and is liable to be admitted for initiation of the Corporate Insolvency Resolution Process, with consequential orders for moratorium and appointment of an Interim Resolution Professional.
Analysis: The corporate applicant placed on record its books of account, financial statements, debt particulars, demand notices, statement of affairs, and the special resolution of shareholders authorising the filing of the application. The record showed that the debt was due and payable, the default was established, and the amount in default exceeded the threshold prescribed under section 4(1) of the Insolvency and Bankruptcy Code, 2016. The application was found to be free from defects and complete in all respects. The proposed Interim Resolution Professional had furnished consent, and the statutory requirements for admission under section 10 were satisfied.
Conclusion: The application was admitted, Corporate Insolvency Resolution Process was initiated, moratorium was ordered, and the proposed Interim Resolution Professional was appointed subject to the stated statutory compliance.
TaxTMI 
