https://www.taxtmi.com/caselaws?id=393019 The Adjudicating Authority admitted the Company Petition under the Insolvency & Bankruptcy Code, 2016, ordering the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor for defaulting on payment. Despite allegations of collusion, the claim's validity was upheld, leading to the imposition of a moratorium under section 14 of the IBC. An Interim Resolution Professional was appointed, with specific directions on responsibilities and fund deposits for expenses. The judgment affirmed jurisdiction, compliance with statutory requirements, and the commencement of CIRP, emphasizing the debt owed by the Corporate Debtor to the Operational Creditor. en-us Tue, 03 Dec 2019 00:00:00 +0530 Wed, 04 Mar 2020 12:37:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393019 The Adjudicating Authority admitted the Company Petition under the Insolvency & Bankruptcy Code, 2016, ordering the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor for defaulting on payment. Despite allegations of collusion, the claim's validity was upheld, leading to the imposition of a moratorium under section 14 of the IBC. An Interim Resolution Professional was appointed, with specific directions on responsibilities and fund deposits for expenses. The judgment affirmed jurisdiction, compliance with statutory requirements, and the commencement of CIRP, emphasizing the debt owed by the Corporate Debtor to the Operational Creditor. Case-Laws Insolvency and Bankruptcy Tue, 03 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393019