https://www.taxtmi.com/caselaws?id=360994 The Tribunal admitted the Application under Section 10 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process for the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, and a moratorium was declared to protect the Corporate Debtor's assets during the resolution process. The Tribunal found sufficient evidence of default in payments to both Financial and Operational Creditors, leading to the decision for admission. Directors and promoters were directed to cooperate with the IRP, and compliance with the Insolvency and Bankruptcy Code was mandated. en-us Fri, 20 Apr 2018 00:00:00 +0530 Sat, 26 May 2018 09:42:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360994 The Tribunal admitted the Application under Section 10 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process for the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, and a moratorium was declared to protect the Corporate Debtor's assets during the resolution process. The Tribunal found sufficient evidence of default in payments to both Financial and Operational Creditors, leading to the decision for admission. Directors and promoters were directed to cooperate with the IRP, and compliance with the Insolvency and Bankruptcy Code was mandated. Case-Laws Insolvency and Bankruptcy Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360994