https://www.taxtmi.com/caselaws?id=287925 The Tribunal dismissed the intervention applications by the promoters of the Corporate Debtor, ruling that the Corporate Debtor's attempts to delay the Corporate Insolvency Resolution Process (CIRP) were unfounded. It held that the promoters cannot stall the CIRP if the debt and default are proven. The Tribunal addressed and rejected objections raised by the Corporate Debtor, appointed an Interim Resolution Professional, Mr. Vikas Prakash Gupta, and issued a moratorium effective from 27.11.2018 until the completion of the CIRP or approval of a resolution plan or liquidation order. en-us Tue, 27 Nov 2018 00:00:00 +0530 Mon, 11 May 2020 10:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287925 The Tribunal dismissed the intervention applications by the promoters of the Corporate Debtor, ruling that the Corporate Debtor's attempts to delay the Corporate Insolvency Resolution Process (CIRP) were unfounded. It held that the promoters cannot stall the CIRP if the debt and default are proven. The Tribunal addressed and rejected objections raised by the Corporate Debtor, appointed an Interim Resolution Professional, Mr. Vikas Prakash Gupta, and issued a moratorium effective from 27.11.2018 until the completion of the CIRP or approval of a resolution plan or liquidation order. Case-Laws Insolvency and Bankruptcy Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287925