https://www.taxtmi.com/caselaws?id=344818 The petition was filed under Section 10 of the Insolvency & Bankruptcy Code 2016 to initiate the Corporate Insolvency Resolution Process. The court clarified the legality of parallel proceedings before BIFR and NCLT, emphasizing the moratorium's effect. After analyzing the conditions precedent, the petition was admitted, triggering Sections 7 and 8 of The Code. The Interim Resolution Professional was appointed with specified duties under Section 18. The judgment declared the commencement of the Corporate Insolvency Resolution Process to address the financial challenges faced by the Corporate Debtor. en-us Mon, 29 May 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344818 The petition was filed under Section 10 of the Insolvency & Bankruptcy Code 2016 to initiate the Corporate Insolvency Resolution Process. The court clarified the legality of parallel proceedings before BIFR and NCLT, emphasizing the moratorium's effect. After analyzing the conditions precedent, the petition was admitted, triggering Sections 7 and 8 of The Code. The Interim Resolution Professional was appointed with specified duties under Section 18. The judgment declared the commencement of the Corporate Insolvency Resolution Process to address the financial challenges faced by the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Mon, 29 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344818