https://www.taxtmi.com/caselaws?id=344139 A complete corporate debtor application under Section 10 of the Insolvency and Bankruptcy Code was supported by the prescribed records, financial statements and creditor details, and the record established debt and default to secured financial creditors. On that basis, the Tribunal admitted the petition, commenced the corporate insolvency resolution process and applied the statutory consequences under the Code, including moratorium, appointment of an interim resolution professional, public announcement, management cooperation and constitution of the committee of creditors. The decision reflects that once the Section 10 application is complete and default is shown, admission and initiation of CIRP follow under the statutory scheme. en-us Tue, 02 May 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344139 A complete corporate debtor application under Section 10 of the Insolvency and Bankruptcy Code was supported by the prescribed records, financial statements and creditor details, and the record established debt and default to secured financial creditors. On that basis, the Tribunal admitted the petition, commenced the corporate insolvency resolution process and applied the statutory consequences under the Code, including moratorium, appointment of an interim resolution professional, public announcement, management cooperation and constitution of the committee of creditors. The decision reflects that once the Section 10 application is complete and default is shown, admission and initiation of CIRP follow under the statutory scheme. Case-Laws Insolvency and Bankruptcy Tue, 02 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344139