https://www.taxtmi.com/caselaws?id=392885 The tribunal found in favor of the operational creditor, establishing the existence of debt exceeding Rs. 1.00 lakh and default by the corporate debtor. An Interim Resolution Professional (IRP) was appointed, initiating the Insolvency Resolution Process. A moratorium was declared, prohibiting legal actions against the debtor. Essential services supply to the debtor was to continue uninterrupted. The moratorium would be in effect until the completion of the resolution process or liquidation. The petition was disposed of without costs, with the registry instructed to inform the Registrar of Companies to safeguard the debtor. en-us Mon, 09 Dec 2019 00:00:00 +0530 Mon, 02 Mar 2020 11:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392885 The tribunal found in favor of the operational creditor, establishing the existence of debt exceeding Rs. 1.00 lakh and default by the corporate debtor. An Interim Resolution Professional (IRP) was appointed, initiating the Insolvency Resolution Process. A moratorium was declared, prohibiting legal actions against the debtor. Essential services supply to the debtor was to continue uninterrupted. The moratorium would be in effect until the completion of the resolution process or liquidation. The petition was disposed of without costs, with the registry instructed to inform the Registrar of Companies to safeguard the debtor. Case-Laws Insolvency and Bankruptcy Mon, 09 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392885