https://www.taxtmi.com/caselaws?id=392254 The Tribunal admitted the petition filed by an operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the corporate debtor for an outstanding amount. The respondent acknowledged the debt but cited financial constraints for non-payment. Relying on the precedent set in Mobilox Innovations (P.) Ltd. v. Kirusa Software (P.) Ltd., the Tribunal found the operational debt valid and appointed an Interim Resolution Professional, declaring a moratorium to initiate the insolvency resolution process. en-us Wed, 04 Dec 2019 00:00:00 +0530 Mon, 17 Feb 2020 09:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392254 The Tribunal admitted the petition filed by an operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the corporate debtor for an outstanding amount. The respondent acknowledged the debt but cited financial constraints for non-payment. Relying on the precedent set in Mobilox Innovations (P.) Ltd. v. Kirusa Software (P.) Ltd., the Tribunal found the operational debt valid and appointed an Interim Resolution Professional, declaring a moratorium to initiate the insolvency resolution process. Case-Laws Insolvency and Bankruptcy Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392254