https://www.taxtmi.com/caselaws?id=393562 The Tribunal initiated the Corporate Insolvency Resolution Process (CIRP) under section 9 of the Insolvency and Bankruptcy Code, 2016, due to the Respondent's default in settling payment for 27,000 mobile phones ordered from the Applicant. The Respondent's failure to pay the outstanding amount led to the imposition of a moratorium under section 14 of the Code to protect their assets. An Interim Resolution Professional (IRP) was appointed to oversee the resolution process, with a directive to submit a report within 30 days for further proceedings. en-us Wed, 20 Nov 2019 00:00:00 +0530 Thu, 19 Mar 2020 10:37:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393562 The Tribunal initiated the Corporate Insolvency Resolution Process (CIRP) under section 9 of the Insolvency and Bankruptcy Code, 2016, due to the Respondent's default in settling payment for 27,000 mobile phones ordered from the Applicant. The Respondent's failure to pay the outstanding amount led to the imposition of a moratorium under section 14 of the Code to protect their assets. An Interim Resolution Professional (IRP) was appointed to oversee the resolution process, with a directive to submit a report within 30 days for further proceedings. Case-Laws Insolvency and Bankruptcy Wed, 20 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393562