https://www.taxtmi.com/caselaws?id=346081 The Tribunal granted territorial jurisdiction to hear the petition filed by Shivek Labs Limited under the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor disclosed debts to financial and operational creditors, with defaults triggering notices under the SARFAESI Act, 2002. Mr. Arora Vivek Kumar was appointed as the Interim Resolution Professional. The Tribunal admitted the petition, directing the appointment of the Interim Resolution Professional, suspension of the Board of Directors' powers, and the formation of the Committee of Creditors. A moratorium was declared on legal actions against the Corporate Debtor and asset transfers, with essential services to continue during the moratorium period. en-us Thu, 06 Jul 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346081 The Tribunal granted territorial jurisdiction to hear the petition filed by Shivek Labs Limited under the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor disclosed debts to financial and operational creditors, with defaults triggering notices under the SARFAESI Act, 2002. Mr. Arora Vivek Kumar was appointed as the Interim Resolution Professional. The Tribunal admitted the petition, directing the appointment of the Interim Resolution Professional, suspension of the Board of Directors' powers, and the formation of the Committee of Creditors. A moratorium was declared on legal actions against the Corporate Debtor and asset transfers, with essential services to continue during the moratorium period. Case-Laws Insolvency and Bankruptcy Thu, 06 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346081