https://www.taxtmi.com/caselaws?id=353706 The Tribunal admitted the Operational Creditor's petition seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for unpaid operational debt. Despite receiving notices, the Corporate Debtor did not respond or appear before the Tribunal. With evidence presented, the Tribunal found the debt to be operational and admitted the application for CIRP. The Tribunal referred the case to the Insolvency and Bankruptcy Board of India (IBBI) for the appointment of an Interim Resolution Professional (IRP) and imposed a moratorium on the Corporate Debtor's assets and legal proceedings as per the Insolvency and Bankruptcy Code, 2016. en-us Fri, 08 Dec 2017 00:00:00 +0530 Wed, 10 Jan 2018 08:51:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353706 The Tribunal admitted the Operational Creditor's petition seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for unpaid operational debt. Despite receiving notices, the Corporate Debtor did not respond or appear before the Tribunal. With evidence presented, the Tribunal found the debt to be operational and admitted the application for CIRP. The Tribunal referred the case to the Insolvency and Bankruptcy Board of India (IBBI) for the appointment of an Interim Resolution Professional (IRP) and imposed a moratorium on the Corporate Debtor's assets and legal proceedings as per the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Fri, 08 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353706