https://www.taxtmi.com/caselaws?id=285103 The tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, initiating Corporate Insolvency Resolution Process against the respondent for defaulting on unsecured loans. The tribunal appointed an Interim Insolvency Resolution Professional and implemented a moratorium under Section 13(1)(a) of the IBC. Respondent's objections were dismissed, confirming the existence of a financial debt and default. The application was disposed of with no costs, with directions for CIRP commencement and communication of the order to relevant parties. en-us Tue, 19 Sep 2017 00:00:00 +0530 Thu, 26 Dec 2019 17:46:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285103 The tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, initiating Corporate Insolvency Resolution Process against the respondent for defaulting on unsecured loans. The tribunal appointed an Interim Insolvency Resolution Professional and implemented a moratorium under Section 13(1)(a) of the IBC. Respondent's objections were dismissed, confirming the existence of a financial debt and default. The application was disposed of with no costs, with directions for CIRP commencement and communication of the order to relevant parties. Case-Laws Insolvency and Bankruptcy Tue, 19 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285103