https://www.taxtmi.com/caselaws?id=384364 The Tribunal admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for the initiation of Corporate Insolvency Resolution Process against a Private Limited Company. The Applicant, an operational creditor, claimed an outstanding amount of Rs. 3,30,643 from the Corporate Debtor for unpaid transport services. Despite attempts to recover the debt, the Corporate Debtor did not respond, leading to the Tribunal's decision to initiate the resolution process. An Interim Resolution Professional was appointed, triggering a moratorium to protect the Corporate Debtor from certain actions during the resolution process. en-us Fri, 19 Jul 2019 00:00:00 +0530 Mon, 12 Aug 2019 07:55:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384364 The Tribunal admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for the initiation of Corporate Insolvency Resolution Process against a Private Limited Company. The Applicant, an operational creditor, claimed an outstanding amount of Rs. 3,30,643 from the Corporate Debtor for unpaid transport services. Despite attempts to recover the debt, the Corporate Debtor did not respond, leading to the Tribunal's decision to initiate the resolution process. An Interim Resolution Professional was appointed, triggering a moratorium to protect the Corporate Debtor from certain actions during the resolution process. Case-Laws Insolvency and Bankruptcy Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384364