https://www.taxtmi.com/caselaws?id=391607 The Tribunal admitted the application under Section 9 of the Insolvency & Bankruptcy Code, finding the Operational Creditor had proven an operational debt of Rs. 7,83,228 due from the Corporate Debtor. The claim for interest was not supported by sufficient evidence. The Tribunal concluded that the Operational Creditor successfully proved the default, leading to initiating the Corporate Insolvency Resolution Process. A moratorium was declared, an Interim Resolution Professional appointed, and directions issued for further proceedings. en-us Fri, 08 Nov 2019 00:00:00 +0530 Mon, 03 Feb 2020 11:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391607 The Tribunal admitted the application under Section 9 of the Insolvency & Bankruptcy Code, finding the Operational Creditor had proven an operational debt of Rs. 7,83,228 due from the Corporate Debtor. The claim for interest was not supported by sufficient evidence. The Tribunal concluded that the Operational Creditor successfully proved the default, leading to initiating the Corporate Insolvency Resolution Process. A moratorium was declared, an Interim Resolution Professional appointed, and directions issued for further proceedings. Case-Laws Insolvency and Bankruptcy Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391607