https://www.taxtmi.com/caselaws?id=385258 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s Today Homes Noida Private Limited, under Section 7 of the Insolvency & Bankruptcy Code, 2016. An Interim Resolution Professional (IRP) was appointed, and a moratorium was declared to protect the Corporate Debtor's assets. Financial creditors were directed to deposit funds for expenses, and the IRP was tasked with safeguarding the Corporate Debtor's property value. The Tribunal emphasized the precedence of the IBC over RERA in cases of inconsistency, allowing for the CIRP to proceed despite arguments based on RERA provisions. en-us Tue, 20 Aug 2019 00:00:00 +0530 Mon, 02 Sep 2019 07:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385258 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s Today Homes Noida Private Limited, under Section 7 of the Insolvency & Bankruptcy Code, 2016. An Interim Resolution Professional (IRP) was appointed, and a moratorium was declared to protect the Corporate Debtor's assets. Financial creditors were directed to deposit funds for expenses, and the IRP was tasked with safeguarding the Corporate Debtor's property value. The Tribunal emphasized the precedence of the IBC over RERA in cases of inconsistency, allowing for the CIRP to proceed despite arguments based on RERA provisions. Case-Laws Insolvency and Bankruptcy Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385258