https://www.taxtmi.com/caselaws?id=390691 The Tribunal admitted the Financial Creditor's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor for defaulting on a loan, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The Tribunal declared a moratorium under Section 14, appointed an Interim Resolution Professional (IRP), and outlined procedural requirements for the resolution process. The Corporate Debtor's acknowledgment of debt and default made them eligible for CIRP admission. The Financial Creditor was directed to pay advance fees to the IRP, ensuring a time-bound CIRP process. en-us Mon, 21 Oct 2019 00:00:00 +0530 Thu, 09 Jan 2020 15:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390691 The Tribunal admitted the Financial Creditor's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Corporate Debtor for defaulting on a loan, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The Tribunal declared a moratorium under Section 14, appointed an Interim Resolution Professional (IRP), and outlined procedural requirements for the resolution process. The Corporate Debtor's acknowledgment of debt and default made them eligible for CIRP admission. The Financial Creditor was directed to pay advance fees to the IRP, ensuring a time-bound CIRP process. Case-Laws Insolvency and Bankruptcy Mon, 21 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390691