https://www.taxtmi.com/caselaws?id=385821 The application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was successful, leading to the initiation of the insolvency resolution process against the corporate debtor. The operational creditor's claim of Rs. 3,09,55,708.00 was acknowledged by the textile manufacturing company, the corporate debtor, with no dispute raised. The adjudicating authority found the operational debt due, appointed an interim resolution professional, declared a moratorium, and directed the initiation of the corporate insolvency resolution process. The order of moratorium was to remain in effect until the resolution process's completion or liquidation of the corporate debtor, ensuring continuity of essential services. en-us Mon, 15 Jul 2019 00:00:00 +0530 Sat, 14 Sep 2019 10:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385821 The application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was successful, leading to the initiation of the insolvency resolution process against the corporate debtor. The operational creditor's claim of Rs. 3,09,55,708.00 was acknowledged by the textile manufacturing company, the corporate debtor, with no dispute raised. The adjudicating authority found the operational debt due, appointed an interim resolution professional, declared a moratorium, and directed the initiation of the corporate insolvency resolution process. The order of moratorium was to remain in effect until the resolution process's completion or liquidation of the corporate debtor, ensuring continuity of essential services. Case-Laws Insolvency and Bankruptcy Mon, 15 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385821