https://www.taxtmi.com/caselaws?id=372279 The Tribunal admitted a Company Petition under section 9 of the Insolvency & Bankruptcy Code, 2016, filed by an Operational Creditor against a Corporate Debtor for defaulting on a payment for supplied diamonds. The completeness of the application, absence of dispute, and default in payment were evaluated, leading to the admission of the petition. The Corporate Debtor acknowledged the debt but cited financial difficulties. Subsequently, a moratorium was declared under section 14 of the I & B Code, prohibiting legal actions, asset transfers, and appointing an Interim Resolution Professional to oversee the resolution process. en-us Thu, 01 Nov 2018 00:00:00 +0530 Thu, 20 Dec 2018 08:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372279 The Tribunal admitted a Company Petition under section 9 of the Insolvency & Bankruptcy Code, 2016, filed by an Operational Creditor against a Corporate Debtor for defaulting on a payment for supplied diamonds. The completeness of the application, absence of dispute, and default in payment were evaluated, leading to the admission of the petition. The Corporate Debtor acknowledged the debt but cited financial difficulties. Subsequently, a moratorium was declared under section 14 of the I & B Code, prohibiting legal actions, asset transfers, and appointing an Interim Resolution Professional to oversee the resolution process. Case-Laws Insolvency and Bankruptcy Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372279