https://www.taxtmi.com/caselaws?id=371308 The Tribunal admitted the Corporate Applicant's application for Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code. Despite objections by Punjab National Bank (PNB) regarding completeness and bona fides, the Tribunal found the application met requirements. A moratorium was declared under Sections 13 and 14 of the IB Code, appointing an Interim Resolution Professional (IRP) subject to IBBI confirmation. The Corporate Applicant was directed to cooperate with the IRP, and legal proceedings against the Corporate Debtor were prohibited during CIRP. en-us Mon, 01 Oct 2018 00:00:00 +0530 Mon, 03 Dec 2018 08:59:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371308 The Tribunal admitted the Corporate Applicant's application for Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code. Despite objections by Punjab National Bank (PNB) regarding completeness and bona fides, the Tribunal found the application met requirements. A moratorium was declared under Sections 13 and 14 of the IB Code, appointing an Interim Resolution Professional (IRP) subject to IBBI confirmation. The Corporate Applicant was directed to cooperate with the IRP, and legal proceedings against the Corporate Debtor were prohibited during CIRP. Case-Laws Insolvency and Bankruptcy Mon, 01 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371308