https://www.taxtmi.com/caselaws?id=360079 The Tribunal admitted the insolvency application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against the Corporate Debtor due to default in payment to the Operational Creditor. An Interim Resolution Professional was appointed, and a moratorium was declared to initiate the Corporate Insolvency Resolution Process. The Operational Creditor met all legal requirements for admission, leading to the Tribunal's decision to proceed ex-parte against the Corporate Debtor. The Corporate Debtor's non-payment and failure to respond to the demand notice resulted in the admission of the application, with the IRP tasked to manage the Corporate Debtor and call for creditor claims. en-us Tue, 20 Mar 2018 00:00:00 +0530 Wed, 09 May 2018 08:40:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360079 The Tribunal admitted the insolvency application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against the Corporate Debtor due to default in payment to the Operational Creditor. An Interim Resolution Professional was appointed, and a moratorium was declared to initiate the Corporate Insolvency Resolution Process. The Operational Creditor met all legal requirements for admission, leading to the Tribunal's decision to proceed ex-parte against the Corporate Debtor. The Corporate Debtor's non-payment and failure to respond to the demand notice resulted in the admission of the application, with the IRP tasked to manage the Corporate Debtor and call for creditor claims. Case-Laws Insolvency and Bankruptcy Tue, 20 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360079