https://www.taxtmi.com/caselaws?id=391748 The Tribunal admitted the petition under Section 7 of The Insolvency and Bankruptcy Code, 2016, filed by financial creditors against a limited company for defaulting on unsecured loans, totaling Rs. 20,04,37,016. The respondent acknowledged the debt, leading to the establishment of default. An Interim Resolution Professional was appointed, a moratorium declared under Section 14, and essential services continued. The petition was disposed of with no costs, and the Registrar of Companies was notified to prevent striking off the company. en-us Tue, 26 Nov 2019 00:00:00 +0530 Thu, 06 Feb 2020 08:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391748 The Tribunal admitted the petition under Section 7 of The Insolvency and Bankruptcy Code, 2016, filed by financial creditors against a limited company for defaulting on unsecured loans, totaling Rs. 20,04,37,016. The respondent acknowledged the debt, leading to the establishment of default. An Interim Resolution Professional was appointed, a moratorium declared under Section 14, and essential services continued. The petition was disposed of with no costs, and the Registrar of Companies was notified to prevent striking off the company. Case-Laws Insolvency and Bankruptcy Tue, 26 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391748