https://www.taxtmi.com/caselaws?id=288288 The Applicant, a construction company, filed for Corporate Insolvency Resolution Process (CIRP) against the Respondent for non-payment of outstanding dues amounting to Rs. 39,11,176. Despite a compromise where the Respondent issued postdated cheques, which later bounced, the Tribunal allowed the revival of the application due to the Respondent's admission of liability and default in payment. A moratorium was imposed under Section 14 of the Insolvency and Bankruptcy Code, appointing an interim resolution professional (IRP) to manage the resolution process. en-us Sat, 25 May 2019 00:00:00 +0530 Mon, 19 Jul 2021 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288288 The Applicant, a construction company, filed for Corporate Insolvency Resolution Process (CIRP) against the Respondent for non-payment of outstanding dues amounting to Rs. 39,11,176. Despite a compromise where the Respondent issued postdated cheques, which later bounced, the Tribunal allowed the revival of the application due to the Respondent's admission of liability and default in payment. A moratorium was imposed under Section 14 of the Insolvency and Bankruptcy Code, appointing an interim resolution professional (IRP) to manage the resolution process. Case-Laws Insolvency and Bankruptcy Sat, 25 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288288