https://www.taxtmi.com/caselaws?id=379601 The Tribunal declared a moratorium, appointed an Interim Resolution Professional, and approved the admission of the application filed by the Financial Creditor in response to a Company Petition under Section 7 of the Insolvency & Bankruptcy Code due to default in repaying an amount of Rs. 147,89,38,608.49 by the Corporate Debtor. The Creditor Bank demonstrated the debt default through documentary evidence, leading to the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor. Despite multiple opportunities, the Corporate Debtor failed to respond or appear before the Adjudicating Authority, resulting in the Tribunal's decision. en-us Mon, 04 Mar 2019 00:00:00 +0530 Mon, 06 May 2019 05:46:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379601 The Tribunal declared a moratorium, appointed an Interim Resolution Professional, and approved the admission of the application filed by the Financial Creditor in response to a Company Petition under Section 7 of the Insolvency & Bankruptcy Code due to default in repaying an amount of Rs. 147,89,38,608.49 by the Corporate Debtor. The Creditor Bank demonstrated the debt default through documentary evidence, leading to the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor. Despite multiple opportunities, the Corporate Debtor failed to respond or appear before the Adjudicating Authority, resulting in the Tribunal's decision. Case-Laws Insolvency and Bankruptcy Mon, 04 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379601