https://www.taxtmi.com/caselaws?id=392467 The Tribunal found the petition valid, not barred by limitation, with evidence supporting time value of money in transactions. It dismissed allegations of concealment and misrepresentation, classifying the debt as financial and the petitioner as a financial creditor. Meeting requirements under the Insolvency and Bankruptcy Code, the Tribunal admitted the application for Corporate Insolvency Resolution Process. Directions included moratorium declaration, appointment of Interim Resolution Professional, suspension of directors' powers, and committee formation with regular progress reports to the Tribunal. Parties and the Interim Resolution Professional were to be informed promptly. en-us Thu, 21 Nov 2019 00:00:00 +0530 Wed, 01 Apr 2020 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392467 The Tribunal found the petition valid, not barred by limitation, with evidence supporting time value of money in transactions. It dismissed allegations of concealment and misrepresentation, classifying the debt as financial and the petitioner as a financial creditor. Meeting requirements under the Insolvency and Bankruptcy Code, the Tribunal admitted the application for Corporate Insolvency Resolution Process. Directions included moratorium declaration, appointment of Interim Resolution Professional, suspension of directors' powers, and committee formation with regular progress reports to the Tribunal. Parties and the Interim Resolution Professional were to be informed promptly. Case-Laws Insolvency and Bankruptcy Thu, 21 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392467