https://www.taxtmi.com/caselaws?id=281356 The Tribunal admitted the petition filed by the Operational Creditor to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to outstanding debt. The Tribunal found the petition valid under Section 9 of the Insolvency and Bankruptcy Code, 2016, as it was filed within the statutory period from the date of default. Despite the Corporate Debtor's acknowledgment of the debt, the Tribunal appointed an Insolvency Resolution Professional to conduct the CIRP and imposed a moratorium on legal actions against the Corporate Debtor, emphasizing the need for cooperation between the parties and the IRP. en-us Mon, 11 Mar 2019 00:00:00 +0530 Sat, 15 Jun 2019 07:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281356 The Tribunal admitted the petition filed by the Operational Creditor to initiate the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to outstanding debt. The Tribunal found the petition valid under Section 9 of the Insolvency and Bankruptcy Code, 2016, as it was filed within the statutory period from the date of default. Despite the Corporate Debtor's acknowledgment of the debt, the Tribunal appointed an Insolvency Resolution Professional to conduct the CIRP and imposed a moratorium on legal actions against the Corporate Debtor, emphasizing the need for cooperation between the parties and the IRP. Case-Laws Insolvency and Bankruptcy Mon, 11 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281356