https://www.taxtmi.com/caselaws?id=278689 An application for initiation of corporate insolvency resolution process was found maintainable because the operational debt was admitted, supported by the demand notice and the debtor's acknowledgment of liability. The requirements under the Insolvency and Bankruptcy Code, 2016 for admission were treated as satisfied, so the application was admitted. On admission, the statutory consequences under Sections 13 to 16 followed, including declaration of moratorium, public announcement, and appointment of an interim resolution professional. en-us Mon, 27 Feb 2017 00:00:00 +0530 Mon, 18 Feb 2019 06:31:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278689 An application for initiation of corporate insolvency resolution process was found maintainable because the operational debt was admitted, supported by the demand notice and the debtor's acknowledgment of liability. The requirements under the Insolvency and Bankruptcy Code, 2016 for admission were treated as satisfied, so the application was admitted. On admission, the statutory consequences under Sections 13 to 16 followed, including declaration of moratorium, public announcement, and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Mon, 27 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278689