https://www.taxtmi.com/caselaws?id=194676 The Tribunal admitted the petition under section 7 of The Insolvency and Bankruptcy Code 2016, declaring a moratorium on the Corporate Debtor and appointing an interim resolution professional. The Corporate Debtor had defaulted on loan facilities provided by the petitioner, leading to outstanding dues of approximately &8377; 27.78 crores. The Tribunal prohibited legal actions against the Corporate Debtor, ensured the supply of essential goods or services, and initiated the insolvency resolution process. An interim resolution professional was appointed to oversee the proceedings until the completion of the resolution process. en-us Fri, 17 Feb 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194676 The Tribunal admitted the petition under section 7 of The Insolvency and Bankruptcy Code 2016, declaring a moratorium on the Corporate Debtor and appointing an interim resolution professional. The Corporate Debtor had defaulted on loan facilities provided by the petitioner, leading to outstanding dues of approximately &8377; 27.78 crores. The Tribunal prohibited legal actions against the Corporate Debtor, ensured the supply of essential goods or services, and initiated the insolvency resolution process. An interim resolution professional was appointed to oversee the proceedings until the completion of the resolution process. Case-Laws Insolvency and Bankruptcy Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194676