https://www.taxtmi.com/caselaws?id=392883 The court admitted the Company Petition under section 9 of the Insolvency & Bankruptcy Code, initiating Corporate Insolvency Resolution Process (CIRP) against the private company. The default by the Corporate Debtor was established, leading to the admission of the petition. A moratorium was declared under section 14 of the IBC, and operational procedures for the CIRP period were outlined, including the appointment of an Insolvency Resolution Professional (IRP) and compliance reporting. The decision was based on the evidence provided by the Operational Creditor and the lack of representation from the Corporate Debtor, ensuring adherence to IBC regulations. en-us Tue, 03 Dec 2019 00:00:00 +0530 Mon, 02 Mar 2020 11:46:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392883 The court admitted the Company Petition under section 9 of the Insolvency & Bankruptcy Code, initiating Corporate Insolvency Resolution Process (CIRP) against the private company. The default by the Corporate Debtor was established, leading to the admission of the petition. A moratorium was declared under section 14 of the IBC, and operational procedures for the CIRP period were outlined, including the appointment of an Insolvency Resolution Professional (IRP) and compliance reporting. The decision was based on the evidence provided by the Operational Creditor and the lack of representation from the Corporate Debtor, ensuring adherence to IBC regulations. Case-Laws Insolvency and Bankruptcy Tue, 03 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392883