https://www.taxtmi.com/caselaws?id=355743 The Tribunal admitted the Operational Creditor's petition against the Corporate Debtor, acknowledging the debt owed for manpower outsourcing services. The Tribunal found the claim valid under the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor had defaulted on payments and the debt fell within the definition of operational debt. Subsequently, the Tribunal allowed substituted service, initiated ex-parte proceedings, and appointed an Interim Resolution Professional to oversee the insolvency resolution process, emphasizing compliance with the legal provisions and protection of the Corporate Debtor's assets. en-us Mon, 08 Jan 2018 00:00:00 +0530 Sat, 17 Feb 2018 06:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355743 The Tribunal admitted the Operational Creditor's petition against the Corporate Debtor, acknowledging the debt owed for manpower outsourcing services. The Tribunal found the claim valid under the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor had defaulted on payments and the debt fell within the definition of operational debt. Subsequently, the Tribunal allowed substituted service, initiated ex-parte proceedings, and appointed an Interim Resolution Professional to oversee the insolvency resolution process, emphasizing compliance with the legal provisions and protection of the Corporate Debtor's assets. Case-Laws Insolvency and Bankruptcy Mon, 08 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355743