https://www.taxtmi.com/caselaws?id=385115 The National Company Law Tribunal, Mumbai Bench, admitted the Company Petition seeking Corporate Insolvency Resolution Process against a Corporate Debtor for defaulting on a payment. Despite financial issues raised by the Debtor, the Tribunal found a valid debt and default, allowing the Petitioner to charge interest at the agreed rate. The Tribunal declared a moratorium, prohibiting suits against the Debtor and appointing an interim resolution professional until the resolution process concludes or liquidation is ordered. The decision emphasized adherence to contractual terms and the Insolvency and Bankruptcy Code for an effective resolution process. en-us Mon, 06 May 2019 00:00:00 +0530 Fri, 30 Aug 2019 07:23:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385115 The National Company Law Tribunal, Mumbai Bench, admitted the Company Petition seeking Corporate Insolvency Resolution Process against a Corporate Debtor for defaulting on a payment. Despite financial issues raised by the Debtor, the Tribunal found a valid debt and default, allowing the Petitioner to charge interest at the agreed rate. The Tribunal declared a moratorium, prohibiting suits against the Debtor and appointing an interim resolution professional until the resolution process concludes or liquidation is ordered. The decision emphasized adherence to contractual terms and the Insolvency and Bankruptcy Code for an effective resolution process. Case-Laws Insolvency and Bankruptcy Mon, 06 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385115