https://www.taxtmi.com/caselaws?id=393774 The Bench admitted the Insolvency and Bankruptcy Application under section 7 of the Insolvency and Bankruptcy Code, 2016, appointing an Interim Resolution Professional (IRP) due to the Corporate Debtor's failure to repay the debt to the Financial Creditor. The Court found evidence of debt and default, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Specific directions were issued, including a moratorium on actions against the Corporate Debtor, continuation of essential supplies, and appointment of an IRP until the constitution of the Committee of Creditors (CoC). en-us Tue, 10 Dec 2019 00:00:00 +0530 Mon, 23 Mar 2020 10:04:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393774 The Bench admitted the Insolvency and Bankruptcy Application under section 7 of the Insolvency and Bankruptcy Code, 2016, appointing an Interim Resolution Professional (IRP) due to the Corporate Debtor's failure to repay the debt to the Financial Creditor. The Court found evidence of debt and default, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Specific directions were issued, including a moratorium on actions against the Corporate Debtor, continuation of essential supplies, and appointment of an IRP until the constitution of the Committee of Creditors (CoC). Case-Laws Insolvency and Bankruptcy Tue, 10 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393774