https://www.taxtmi.com/caselaws?id=284870 The Tribunal admitted a petition under section 9 of the Insolvency and Bankruptcy Code, 2016, initiating Corporate Insolvency proceedings against the Corporate Debtor for non-payment of salary as operational debt. The Corporate Debtor's objections based on alleged misappropriation were deemed managerial disputes, not affecting the debt claim. The Tribunal found the claim valid, declared a moratorium, and appointed an Interim Resolution Professional to oversee the resolution process. Directions were given for addressing discrepancies in accounts and involving the Information Utility. The petitioner was instructed to pay expenses, subject to creditor approval. en-us Wed, 03 Jul 2019 00:00:00 +0530 Sat, 14 Dec 2019 10:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284870 The Tribunal admitted a petition under section 9 of the Insolvency and Bankruptcy Code, 2016, initiating Corporate Insolvency proceedings against the Corporate Debtor for non-payment of salary as operational debt. The Corporate Debtor's objections based on alleged misappropriation were deemed managerial disputes, not affecting the debt claim. The Tribunal found the claim valid, declared a moratorium, and appointed an Interim Resolution Professional to oversee the resolution process. Directions were given for addressing discrepancies in accounts and involving the Information Utility. The petitioner was instructed to pay expenses, subject to creditor approval. Case-Laws Insolvency and Bankruptcy Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284870