https://www.taxtmi.com/caselaws?id=395240 The petition filed under section 9 of the Insolvency and Bankruptcy Code, 2016 was admitted, initiating the Corporate Insolvency Resolution Process (CIRP) and declaring a moratorium. The operational creditor alleged a default in payment by the corporate debtor, arising from a construction contract. The corporate debtor's objections and disputes were not substantiated with evidence, leading to the court finding in favor of the operational creditor. An Interim Resolution Professional (IRP) was appointed, and immediate expenses were directed to be deposited. The moratorium was enforced, and relevant parties were notified for further proceedings. en-us Thu, 31 Oct 2019 00:00:00 +0530 Wed, 13 May 2020 10:08:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395240 The petition filed under section 9 of the Insolvency and Bankruptcy Code, 2016 was admitted, initiating the Corporate Insolvency Resolution Process (CIRP) and declaring a moratorium. The operational creditor alleged a default in payment by the corporate debtor, arising from a construction contract. The corporate debtor's objections and disputes were not substantiated with evidence, leading to the court finding in favor of the operational creditor. An Interim Resolution Professional (IRP) was appointed, and immediate expenses were directed to be deposited. The moratorium was enforced, and relevant parties were notified for further proceedings. Case-Laws Insolvency and Bankruptcy Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395240