https://www.taxtmi.com/caselaws?id=349603 Section 7 of the Insolvency and Bankruptcy Code, 2016 was invoked by a financial creditor against the corporate debtor on the basis of alleged financial debt, default, and security created over current assets, fixed assets, and mortgaged properties. The text records that SARFAESI measures were also taken, including demand notice, symbolic possession, and recall of outstanding dues. The Tribunal admitted the insolvency application, appointed an Interim Resolution Professional, directed public announcement, and declared moratorium under Section 14, restraining suits, recovery actions, transfer of assets, and enforcement of security interests. en-us Thu, 07 Sep 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349603 Section 7 of the Insolvency and Bankruptcy Code, 2016 was invoked by a financial creditor against the corporate debtor on the basis of alleged financial debt, default, and security created over current assets, fixed assets, and mortgaged properties. The text records that SARFAESI measures were also taken, including demand notice, symbolic possession, and recall of outstanding dues. The Tribunal admitted the insolvency application, appointed an Interim Resolution Professional, directed public announcement, and declared moratorium under Section 14, restraining suits, recovery actions, transfer of assets, and enforcement of security interests. Case-Laws Insolvency and Bankruptcy Thu, 07 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349603