https://www.taxtmi.com/caselaws?id=388198 The NCLT admitted the petition filed under section 7 of the IBC by the Financial Creditor against the Corporate Debtor for non-payment of Rs. 44,40,859.50. The Tribunal found the debt and default established and appointed an Interim Resolution Professional (IRP). A moratorium was declared under section 14, restricting legal actions and asset transfers against the Corporate Debtor. The management of the Corporate Debtor was vested in the IRP, and essential supplies were maintained. The Operational Creditor was ordered to deposit funds for public notice expenses, with necessary communications directed to relevant parties and authorities. en-us Mon, 16 Sep 2019 00:00:00 +0530 Thu, 07 Nov 2024 14:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388198 The NCLT admitted the petition filed under section 7 of the IBC by the Financial Creditor against the Corporate Debtor for non-payment of Rs. 44,40,859.50. The Tribunal found the debt and default established and appointed an Interim Resolution Professional (IRP). A moratorium was declared under section 14, restricting legal actions and asset transfers against the Corporate Debtor. The management of the Corporate Debtor was vested in the IRP, and essential supplies were maintained. The Operational Creditor was ordered to deposit funds for public notice expenses, with necessary communications directed to relevant parties and authorities. Case-Laws IBC Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388198