https://www.taxtmi.com/caselaws?id=383326 The application filed by the operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016 was admitted. The existence of operational debt and default by the corporate debtor was established, leading to the appointment of an interim insolvency professional. The Adjudicating Authority declared a moratorium and initiated the insolvency resolution process to address the outstanding amount owed by the corporate debtor. The judgment emphasized procedural compliance and legal steps to resolve the operational debt issue effectively, ensuring protection of all parties' interests. en-us Wed, 29 May 2019 00:00:00 +0530 Mon, 22 Jul 2019 06:20:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383326 The application filed by the operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016 was admitted. The existence of operational debt and default by the corporate debtor was established, leading to the appointment of an interim insolvency professional. The Adjudicating Authority declared a moratorium and initiated the insolvency resolution process to address the outstanding amount owed by the corporate debtor. The judgment emphasized procedural compliance and legal steps to resolve the operational debt issue effectively, ensuring protection of all parties' interests. Case-Laws Insolvency and Bankruptcy Wed, 29 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383326