https://www.taxtmi.com/caselaws?id=373563 The Tribunal found overwhelming evidence of default by the Corporate Debtor, leading to the admission of the application under Section 7 of the Insolvency and Bankruptcy Code. Mr. Yash Jeet Basrar was appointed as the Interim Resolution Professional, and a moratorium was declared. The Tribunal emphasized that the nature of IBC proceedings is not for debt recovery but to resolve insolvency issues. The Registrar of Companies was directed to update the Corporate Debtor's status on its website. en-us Fri, 11 Jan 2019 00:00:00 +0530 Wed, 16 Jan 2019 09:20:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373563 The Tribunal found overwhelming evidence of default by the Corporate Debtor, leading to the admission of the application under Section 7 of the Insolvency and Bankruptcy Code. Mr. Yash Jeet Basrar was appointed as the Interim Resolution Professional, and a moratorium was declared. The Tribunal emphasized that the nature of IBC proceedings is not for debt recovery but to resolve insolvency issues. The Registrar of Companies was directed to update the Corporate Debtor's status on its website. Case-Laws Insolvency and Bankruptcy Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373563