https://www.taxtmi.com/caselaws?id=395215 The Tribunal admitted the application under section 7 of the Insolvency and Bankruptcy Code, 2016, and initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, and a moratorium was imposed as per the provisions of the Code. The Tribunal found that the Fully Convertible Debentures (FCDs) constituted financial debt, and the Corporate Debtor defaulted on its obligations under the agreements, leading to the commencement of the insolvency proceedings. en-us Wed, 11 Dec 2019 00:00:00 +0530 Tue, 16 Nov 2021 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395215 The Tribunal admitted the application under section 7 of the Insolvency and Bankruptcy Code, 2016, and initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, and a moratorium was imposed as per the provisions of the Code. The Tribunal found that the Fully Convertible Debentures (FCDs) constituted financial debt, and the Corporate Debtor defaulted on its obligations under the agreements, leading to the commencement of the insolvency proceedings. Case-Laws Insolvency and Bankruptcy Wed, 11 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395215