https://www.taxtmi.com/caselaws?id=274896 The National Company Law Tribunal, Chandigarh, admitted Corporation Bank's petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against a respondent company for defaulting on financial debt amounting to Rs. 841.70 crores. The Tribunal appointed an Interim Resolution Professional (IRP) and declared a moratorium on legal proceedings, asset transfers, and enforcement of security interests. The Corporate Debtor's ongoing restructuring efforts were noted, and the matter was adjourned for formal IRP appointment and further directions. The Tribunal emphasized adherence to insolvency procedures without additional specific directions. en-us Mon, 24 Jul 2017 00:00:00 +0530 Sun, 09 Sep 2018 11:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274896 The National Company Law Tribunal, Chandigarh, admitted Corporation Bank's petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against a respondent company for defaulting on financial debt amounting to Rs. 841.70 crores. The Tribunal appointed an Interim Resolution Professional (IRP) and declared a moratorium on legal proceedings, asset transfers, and enforcement of security interests. The Corporate Debtor's ongoing restructuring efforts were noted, and the matter was adjourned for formal IRP appointment and further directions. The Tribunal emphasized adherence to insolvency procedures without additional specific directions. Case-Laws Companies Law Mon, 24 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274896