https://www.taxtmi.com/caselaws?id=391935 The Tribunal admitted the application for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor (CD) based on default in payment by the Principal Borrower, allowing the Financial Creditor (FC) to invoke the corporate guarantee. The Tribunal appointed an Insolvency Resolution Professional (IRP), imposed a moratorium on the CD, and suspended the Board of Directors, in line with Section 7 of the Insolvency and Bankruptcy Code, to facilitate the resolution process and address financial distress. en-us Mon, 21 Oct 2019 00:00:00 +0530 Mon, 10 Feb 2020 08:57:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391935 The Tribunal admitted the application for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor (CD) based on default in payment by the Principal Borrower, allowing the Financial Creditor (FC) to invoke the corporate guarantee. The Tribunal appointed an Insolvency Resolution Professional (IRP), imposed a moratorium on the CD, and suspended the Board of Directors, in line with Section 7 of the Insolvency and Bankruptcy Code, to facilitate the resolution process and address financial distress. Case-Laws Insolvency and Bankruptcy Mon, 21 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391935