https://www.taxtmi.com/caselaws?id=380510 The court allowed ICICI Bank's application under section 7 of the Insolvency and Bankruptcy Code against Gitanjali Gems Ltd., appointing an Interim Resolution Professional (IRP) and declaring a 'Moratorium'. The Tribunal granted permission for the IRP to open a separate bank account for CIRP purposes and approved the creation of a Corpus Fund for CIRP costs. Concerns were raised over the claimed expenses, leading to a referral of the issue of fixing CIRP costs to IBBI, New Delhi. The Tribunal authorized the RP to withdraw a specific amount and directed the submission of a detailed progress report for transparency in managing the CIRP. en-us Tue, 14 May 2019 00:00:00 +0530 Thu, 23 May 2019 08:00:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380510 The court allowed ICICI Bank's application under section 7 of the Insolvency and Bankruptcy Code against Gitanjali Gems Ltd., appointing an Interim Resolution Professional (IRP) and declaring a 'Moratorium'. The Tribunal granted permission for the IRP to open a separate bank account for CIRP purposes and approved the creation of a Corpus Fund for CIRP costs. Concerns were raised over the claimed expenses, leading to a referral of the issue of fixing CIRP costs to IBBI, New Delhi. The Tribunal authorized the RP to withdraw a specific amount and directed the submission of a detailed progress report for transparency in managing the CIRP. Case-Laws Insolvency and Bankruptcy Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380510