https://www.taxtmi.com/caselaws?id=283183 The Tribunal admitted the petition under Section 7 of the Insolvency and Bankruptcy Code, finding that the Financial Creditor's documents met the statutory requirements. An Interim Resolution Professional was appointed, and a moratorium was imposed on certain actions by the Corporate Debtor. Essential goods or services were not to be terminated during the moratorium, and the Insolvency Professional was tasked with managing the affairs of the Corporate Debtor with cooperation expected from the debtor and its associated parties. Failure to fulfill statutory duties could lead to the Interim Resolution Professional seeking directions from the Tribunal. en-us Wed, 28 Jun 2017 00:00:00 +0530 Thu, 12 Sep 2019 10:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283183 The Tribunal admitted the petition under Section 7 of the Insolvency and Bankruptcy Code, finding that the Financial Creditor's documents met the statutory requirements. An Interim Resolution Professional was appointed, and a moratorium was imposed on certain actions by the Corporate Debtor. Essential goods or services were not to be terminated during the moratorium, and the Insolvency Professional was tasked with managing the affairs of the Corporate Debtor with cooperation expected from the debtor and its associated parties. Failure to fulfill statutory duties could lead to the Interim Resolution Professional seeking directions from the Tribunal. Case-Laws Insolvency and Bankruptcy Wed, 28 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283183