https://www.taxtmi.com/caselaws?id=347737 The Tribunal admitted the insolvency application filed by Punjab National Bank against Corporate Debtor M/s Concord Hospitality Pvt. Ltd., appointed an Interim Resolution Professional, and declared a moratorium under Section 14 of the Insolvency and Bankruptcy Code. The petition was disposed of with directions for cooperation with the Interim Resolution Professional in managing the affairs of the Corporate Debtor. Directors and guarantors were found unnecessary parties, loan default details were outlined, and objections by the Corporate Debtor were dismissed. The restructuring proposal by the Corporate Debtor was rejected, and the application was found maintainable without consortium approval. en-us Fri, 04 Aug 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347737 The Tribunal admitted the insolvency application filed by Punjab National Bank against Corporate Debtor M/s Concord Hospitality Pvt. Ltd., appointed an Interim Resolution Professional, and declared a moratorium under Section 14 of the Insolvency and Bankruptcy Code. The petition was disposed of with directions for cooperation with the Interim Resolution Professional in managing the affairs of the Corporate Debtor. Directors and guarantors were found unnecessary parties, loan default details were outlined, and objections by the Corporate Debtor were dismissed. The restructuring proposal by the Corporate Debtor was rejected, and the application was found maintainable without consortium approval. Case-Laws Insolvency and Bankruptcy Fri, 04 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347737