https://www.taxtmi.com/caselaws?id=273137 The adjudicating authority admitted the application for initiation of Corporate Insolvency Resolution Process (CIRP) as the corporate debtor failed to pay operational dues of Rs. 2,19,92,896 despite receiving a demand notice. The authority found no valid dispute raised within the statutory period and the objections unsupported by evidence. The operational creditor met the requirements of Sections 9(3)(b) and 9(3)(c) of the Code, and the claim qualified as operational debt. Consequently, a moratorium under Section 14 of the Insolvency & Bankruptcy Code was imposed, appointing an Interim Resolution Professional (IRP) and ordering necessary public announcements. en-us Fri, 12 Jan 2018 00:00:00 +0530 Fri, 08 Jun 2018 10:05:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273137 The adjudicating authority admitted the application for initiation of Corporate Insolvency Resolution Process (CIRP) as the corporate debtor failed to pay operational dues of Rs. 2,19,92,896 despite receiving a demand notice. The authority found no valid dispute raised within the statutory period and the objections unsupported by evidence. The operational creditor met the requirements of Sections 9(3)(b) and 9(3)(c) of the Code, and the claim qualified as operational debt. Consequently, a moratorium under Section 14 of the Insolvency & Bankruptcy Code was imposed, appointing an Interim Resolution Professional (IRP) and ordering necessary public announcements. Case-Laws Insolvency and Bankruptcy Fri, 12 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273137