https://www.taxtmi.com/caselaws?id=387018 The Tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating Corporate Insolvency Resolution Process against the Corporate Debtor due to failure in repaying credit facilities. The Corporate Debtor's account was classified as Non-Performing Asset, and the debt assignment to the Financial Creditor was upheld. The Tribunal rejected the limitation defense, appointed an Interim Resolution Professional, and imposed a moratorium on legal actions. The next hearing was scheduled for monitoring the resolution process within 105 days. en-us Fri, 09 Aug 2019 00:00:00 +0530 Tue, 15 Oct 2019 12:07:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387018 The Tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating Corporate Insolvency Resolution Process against the Corporate Debtor due to failure in repaying credit facilities. The Corporate Debtor's account was classified as Non-Performing Asset, and the debt assignment to the Financial Creditor was upheld. The Tribunal rejected the limitation defense, appointed an Interim Resolution Professional, and imposed a moratorium on legal actions. The next hearing was scheduled for monitoring the resolution process within 105 days. Case-Laws Insolvency and Bankruptcy Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387018