https://www.taxtmi.com/caselaws?id=351646 The Tribunal admitted the application for the initiation of Corporate Insolvency Resolution Process (CIRP) against the corporate debtor based on unpaid salary claims. It found the applicant, an operational creditor, had met the procedural requirements under the Insolvency and Bankruptcy Code. The Tribunal dismissed objections raised by the corporate debtor, including allegations of forum shopping and non-compliance with Section 9(3)(c) of the Code. It issued a moratorium under Section 14, prohibiting legal actions against the debtor and asset transfers. The burden of proof was emphasized to lie with the party making allegations. en-us Thu, 26 Oct 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351646 The Tribunal admitted the application for the initiation of Corporate Insolvency Resolution Process (CIRP) against the corporate debtor based on unpaid salary claims. It found the applicant, an operational creditor, had met the procedural requirements under the Insolvency and Bankruptcy Code. The Tribunal dismissed objections raised by the corporate debtor, including allegations of forum shopping and non-compliance with Section 9(3)(c) of the Code. It issued a moratorium under Section 14, prohibiting legal actions against the debtor and asset transfers. The burden of proof was emphasized to lie with the party making allegations. Case-Laws Insolvency and Bankruptcy Thu, 26 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351646