https://www.taxtmi.com/caselaws?id=352911 The tribunal admitted the petition, finding an operational debt exceeding Rs. 1 Lakh due and payable but unpaid by the respondent. No evidence of a pre-existing dispute or pending arbitration was found. Consequently, the Corporate Insolvency Resolution Process (CIRP) was initiated against the respondent, with Dr. K. Lakshmi Narsimha appointed as the Interim Resolution Professional and a moratorium declared. Further directions included the public announcement of CIRP initiation, Committee of Creditors formation, and cooperation from Gayatri Projects Limited personnel. The case was scheduled for further proceedings on 02.11.2017. en-us Tue, 10 Oct 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352911 The tribunal admitted the petition, finding an operational debt exceeding Rs. 1 Lakh due and payable but unpaid by the respondent. No evidence of a pre-existing dispute or pending arbitration was found. Consequently, the Corporate Insolvency Resolution Process (CIRP) was initiated against the respondent, with Dr. K. Lakshmi Narsimha appointed as the Interim Resolution Professional and a moratorium declared. Further directions included the public announcement of CIRP initiation, Committee of Creditors formation, and cooperation from Gayatri Projects Limited personnel. The case was scheduled for further proceedings on 02.11.2017. Case-Laws Insolvency and Bankruptcy Tue, 10 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352911