https://www.taxtmi.com/caselaws?id=382409 The National Company Law Tribunal, Mumbai Bench, admitted a petition under section 7 of the Insolvency & Bankruptcy Code, 2016, filed by a Financial Creditor against a Corporate Debtor for default in repayment. The Corporate Debtor admitted its inability to service the debt, leading to the appointment of an Interim Resolution Professional. The Tribunal declared a moratorium under section 14 of the Code, prohibiting actions against the Debtor and appointing the Professional. The moratorium would remain in effect until the completion of the insolvency resolution process or liquidation. en-us Wed, 08 May 2019 00:00:00 +0530 Wed, 03 Jul 2019 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382409 The National Company Law Tribunal, Mumbai Bench, admitted a petition under section 7 of the Insolvency & Bankruptcy Code, 2016, filed by a Financial Creditor against a Corporate Debtor for default in repayment. The Corporate Debtor admitted its inability to service the debt, leading to the appointment of an Interim Resolution Professional. The Tribunal declared a moratorium under section 14 of the Code, prohibiting actions against the Debtor and appointing the Professional. The moratorium would remain in effect until the completion of the insolvency resolution process or liquidation. Case-Laws Insolvency and Bankruptcy Wed, 08 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382409