https://www.taxtmi.com/caselaws?id=388962 The Tribunal admitted the Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor due to default in loan repayment. Punjab National Bank's claim for outstanding loan repayment of Rs. 13,05,11,934 was accepted, leading to the appointment of an Interim Resolution Professional to manage the affairs of the Corporate Debtor during the moratorium period. The Tribunal directed compliance with the order, including depositing funds for expenses and providing progress reports on the resolution process. en-us Fri, 20 Sep 2019 00:00:00 +0530 Thu, 28 Nov 2019 11:08:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388962 The Tribunal admitted the Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor due to default in loan repayment. Punjab National Bank's claim for outstanding loan repayment of Rs. 13,05,11,934 was accepted, leading to the appointment of an Interim Resolution Professional to manage the affairs of the Corporate Debtor during the moratorium period. The Tribunal directed compliance with the order, including depositing funds for expenses and providing progress reports on the resolution process. Case-Laws Insolvency and Bankruptcy Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388962