https://www.taxtmi.com/caselaws?id=395118 The court admitted the Company Petition under section 9 of the Insolvency & Bankruptcy Code, 2016, filed by the Operational Creditor against the Corporate Debtor for non-payment of a substantial sum. The Corporate Debtor admitted the liability but cited financial difficulties. The court found the petition complete, established the debt's existence, and ordered the initiation of the Corporate Insolvency Resolution Process (CIRP). Subsequent orders included declaring a moratorium, appointing an Interim Resolution Professional (IRP), and vesting management in the IRP during the CIRP period. en-us Fri, 08 Nov 2019 00:00:00 +0530 Thu, 07 May 2020 09:30:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395118 The court admitted the Company Petition under section 9 of the Insolvency & Bankruptcy Code, 2016, filed by the Operational Creditor against the Corporate Debtor for non-payment of a substantial sum. The Corporate Debtor admitted the liability but cited financial difficulties. The court found the petition complete, established the debt's existence, and ordered the initiation of the Corporate Insolvency Resolution Process (CIRP). Subsequent orders included declaring a moratorium, appointing an Interim Resolution Professional (IRP), and vesting management in the IRP during the CIRP period. Case-Laws Insolvency and Bankruptcy Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395118