https://www.taxtmi.com/caselaws?id=287892 The Tribunal admitted the application filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, declaring a moratorium on legal actions against the Corporate Debtor. An interim resolution professional was appointed to oversee the corporate insolvency resolution process, with directions issued to protect assets and maintain essential services during the moratorium period. The Tribunal found the Financial Creditor had the authority to initiate the insolvency process, and after establishing the default in loan payment, deemed the application admissible, following the precedent set by the Supreme Court in a relevant case. en-us Mon, 15 Jan 2018 00:00:00 +0530 Mon, 19 Jul 2021 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287892 The Tribunal admitted the application filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, declaring a moratorium on legal actions against the Corporate Debtor. An interim resolution professional was appointed to oversee the corporate insolvency resolution process, with directions issued to protect assets and maintain essential services during the moratorium period. The Tribunal found the Financial Creditor had the authority to initiate the insolvency process, and after establishing the default in loan payment, deemed the application admissible, following the precedent set by the Supreme Court in a relevant case. Case-Laws Insolvency and Bankruptcy Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287892