https://www.taxtmi.com/caselaws?id=287228 The Tribunal found in favor of the Applicant in an Insolvency and Bankruptcy Code application for default in loan repayment by the Corporate Debtor. Despite the Respondent's claims of partial repayment and solvency, the Tribunal determined the loan as due and payable due to lack of repayment and unsubstantiated compromise agreement. An interim resolution professional (IRP) was appointed, initiating the corporate insolvency resolution process under Section 7 of the Code. A moratorium was imposed on the Corporate Debtor, suspending legal actions, and operational directions were issued for communication and compliance. en-us Tue, 15 Jan 2019 00:00:00 +0530 Sat, 04 Apr 2020 09:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287228 The Tribunal found in favor of the Applicant in an Insolvency and Bankruptcy Code application for default in loan repayment by the Corporate Debtor. Despite the Respondent's claims of partial repayment and solvency, the Tribunal determined the loan as due and payable due to lack of repayment and unsubstantiated compromise agreement. An interim resolution professional (IRP) was appointed, initiating the corporate insolvency resolution process under Section 7 of the Code. A moratorium was imposed on the Corporate Debtor, suspending legal actions, and operational directions were issued for communication and compliance. Case-Laws Insolvency and Bankruptcy Tue, 15 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287228