https://www.taxtmi.com/caselaws?id=396016 The Tribunal admitted the operational creditor's petition under Sec.9 of the Insolvency & Bankruptcy Code, 2016 against the corporate debtor for defaulting on payment. Despite the corporate debtor's claims of quality issues with supplied materials, the Tribunal found no material dispute and approved the appointment of an Interim Resolution Professional. The Corporate Insolvency Resolution Process was initiated, and the operational creditor was directed to pay an advance fee for the resolution process. The Resolution Professional was tasked to conduct the process in a time-bound manner, with progress reports required, and the order to be communicated to all parties involved. en-us Fri, 08 Nov 2019 00:00:00 +0530 Thu, 18 Jun 2020 10:05:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396016 The Tribunal admitted the operational creditor's petition under Sec.9 of the Insolvency & Bankruptcy Code, 2016 against the corporate debtor for defaulting on payment. Despite the corporate debtor's claims of quality issues with supplied materials, the Tribunal found no material dispute and approved the appointment of an Interim Resolution Professional. The Corporate Insolvency Resolution Process was initiated, and the operational creditor was directed to pay an advance fee for the resolution process. The Resolution Professional was tasked to conduct the process in a time-bound manner, with progress reports required, and the order to be communicated to all parties involved. Case-Laws Insolvency and Bankruptcy Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396016