https://www.taxtmi.com/caselaws?id=390426 The Tribunal confirmed jurisdiction over the matter, classified the applicant as a "Financial Creditor," and recognized the oral loan agreement as valid. Ongoing legal proceedings did not hinder initiating the Corporate Insolvency Resolution Process (CIRP). The application met procedural requirements, leading to admission for CIRP initiation against the respondent corporate debtor. Mr. Sameer Rastogi was appointed as the Interim Resolution Professional, a moratorium was declared, and the applicant was directed to deposit funds for expenses. Cooperation from the corporate debtor's management was mandated. en-us Wed, 25 Sep 2019 00:00:00 +0530 Thu, 02 Jan 2020 17:16:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390426 The Tribunal confirmed jurisdiction over the matter, classified the applicant as a "Financial Creditor," and recognized the oral loan agreement as valid. Ongoing legal proceedings did not hinder initiating the Corporate Insolvency Resolution Process (CIRP). The application met procedural requirements, leading to admission for CIRP initiation against the respondent corporate debtor. Mr. Sameer Rastogi was appointed as the Interim Resolution Professional, a moratorium was declared, and the applicant was directed to deposit funds for expenses. Cooperation from the corporate debtor's management was mandated. Case-Laws Insolvency and Bankruptcy Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390426