https://www.taxtmi.com/caselaws?id=370459 The Tribunal found that the interim resolution professional (IRP) and authorized representative (AR) acted within their roles and did not harm the interests of financial creditors. The IRP faced challenges in verifying claims due to the high number of creditors and lack of awareness among them. The Tribunal directed the IRP to process all claims within two weeks, update the list of creditors, convene a CoC meeting, publish the updated list, and vacate the stay granted. The period from the stay grant to the order date was excluded from the Corporate Insolvency Resolution Process (CIRP) period. The application was closed without costs, with directions for proper creditor processing and participation in the CIRP. en-us Thu, 04 Oct 2018 00:00:00 +0530 Sat, 17 Nov 2018 08:02:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370459 The Tribunal found that the interim resolution professional (IRP) and authorized representative (AR) acted within their roles and did not harm the interests of financial creditors. The IRP faced challenges in verifying claims due to the high number of creditors and lack of awareness among them. The Tribunal directed the IRP to process all claims within two weeks, update the list of creditors, convene a CoC meeting, publish the updated list, and vacate the stay granted. The period from the stay grant to the order date was excluded from the Corporate Insolvency Resolution Process (CIRP) period. The application was closed without costs, with directions for proper creditor processing and participation in the CIRP. Case-Laws Insolvency and Bankruptcy Thu, 04 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370459