https://www.taxtmi.com/caselaws?id=287949 The bank petitioner initiated the corporate insolvency resolution process against the corporate debtor for defaulting on facilities totaling Rs. 14,69,00,000. The petitioner provided evidence of default, including security documents and a statement of account, leading to the admission of the petition by the Adjudicating Authority. Despite the debtor's proposal for settlement and restructuring, the petitioner rejected it, resulting in the appointment of an interim resolution professional and the imposition of a moratorium on legal actions against the debtor. The order ensured the proper conduct of the insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. en-us Mon, 07 Jan 2019 00:00:00 +0530 Tue, 12 May 2020 08:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287949 The bank petitioner initiated the corporate insolvency resolution process against the corporate debtor for defaulting on facilities totaling Rs. 14,69,00,000. The petitioner provided evidence of default, including security documents and a statement of account, leading to the admission of the petition by the Adjudicating Authority. Despite the debtor's proposal for settlement and restructuring, the petitioner rejected it, resulting in the appointment of an interim resolution professional and the imposition of a moratorium on legal actions against the debtor. The order ensured the proper conduct of the insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Mon, 07 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287949