https://www.taxtmi.com/caselaws?id=386791 The application under Section 9 of the Insolvency & Bankruptcy Code was admitted against the Corporate Debtor due to default in payment. The Operational Creditor's claim of Rs. 3,13,409/- was unpaid, leading to the initiation of the Corporate Insolvency Resolution Process. A moratorium was declared to protect the Corporate Debtor from legal actions, and an Interim Resolution Professional was appointed to manage the debtor's affairs. The Corporate Debtor's admission of inability to repay debts and failure to meet obligations resulted in the court's decision for insolvency proceedings to proceed. en-us Fri, 24 May 2019 00:00:00 +0530 Wed, 09 Oct 2019 07:33:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386791 The application under Section 9 of the Insolvency & Bankruptcy Code was admitted against the Corporate Debtor due to default in payment. The Operational Creditor's claim of Rs. 3,13,409/- was unpaid, leading to the initiation of the Corporate Insolvency Resolution Process. A moratorium was declared to protect the Corporate Debtor from legal actions, and an Interim Resolution Professional was appointed to manage the debtor's affairs. The Corporate Debtor's admission of inability to repay debts and failure to meet obligations resulted in the court's decision for insolvency proceedings to proceed. Case-Laws Insolvency and Bankruptcy Fri, 24 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386791