https://www.taxtmi.com/caselaws?id=288387 The Tribunal admitted the Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, finding the Operational Creditor had substantiated the debt and default due to unpaid rent by the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, a moratorium declared, and the insolvency resolution process initiated. The judgment highlights the necessity of honoring contractual obligations and utilizing legal avenues in cases of default, emphasizing procedural integrity in insolvency matters. en-us Tue, 13 Aug 2019 00:00:00 +0530 Wed, 03 Jun 2020 21:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288387 The Tribunal admitted the Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, finding the Operational Creditor had substantiated the debt and default due to unpaid rent by the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, a moratorium declared, and the insolvency resolution process initiated. The judgment highlights the necessity of honoring contractual obligations and utilizing legal avenues in cases of default, emphasizing procedural integrity in insolvency matters. Case-Laws Insolvency and Bankruptcy Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288387