https://www.taxtmi.com/caselaws?id=383090 The Tribunal admitted the Petition for Corporate Insolvency Resolution under Section 10 of the Insolvency and Bankruptcy Code, 2016. A moratorium was declared, prohibiting suits or proceedings against the Corporate Debtor, ensuring essential supplies, and appointing an Interim Resolution Professional. The process commenced due to default in loan repayment, with the total outstanding debt amounting to &8377;8,02,32,677 owed to various financial creditors. The Tribunal's decision aimed to facilitate the resolution process and address the financial challenges faced by the Corporate Applicant, setting the stage for further proceedings in line with the IBC, 2016. en-us Wed, 13 Mar 2019 00:00:00 +0530 Wed, 17 Jul 2019 09:43:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383090 The Tribunal admitted the Petition for Corporate Insolvency Resolution under Section 10 of the Insolvency and Bankruptcy Code, 2016. A moratorium was declared, prohibiting suits or proceedings against the Corporate Debtor, ensuring essential supplies, and appointing an Interim Resolution Professional. The process commenced due to default in loan repayment, with the total outstanding debt amounting to &8377;8,02,32,677 owed to various financial creditors. The Tribunal's decision aimed to facilitate the resolution process and address the financial challenges faced by the Corporate Applicant, setting the stage for further proceedings in line with the IBC, 2016. Case-Laws Insolvency and Bankruptcy Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383090