https://www.taxtmi.com/caselaws?id=392423 The SC upheld the application of IBC provisions despite an admitted winding-up petition, affirming the Bombay HC's decision. The petition met Section 7 requirements, leading to the appointment of an Interim Resolution Professional. A moratorium under Section 14 was declared, and the Financial Creditor was instructed to deposit funds for expenses. Relevant parties were directed to provide necessary documents, with discrepancies in account statements deferred for resolution. The order was to be communicated and the Registrar of Companies' website updated accordingly. en-us Wed, 27 Nov 2019 00:00:00 +0530 Thu, 07 Nov 2024 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392423 The SC upheld the application of IBC provisions despite an admitted winding-up petition, affirming the Bombay HC's decision. The petition met Section 7 requirements, leading to the appointment of an Interim Resolution Professional. A moratorium under Section 14 was declared, and the Financial Creditor was instructed to deposit funds for expenses. Relevant parties were directed to provide necessary documents, with discrepancies in account statements deferred for resolution. The order was to be communicated and the Registrar of Companies' website updated accordingly. Case-Laws IBC Wed, 27 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392423