https://www.taxtmi.com/caselaws?id=289735 The Tribunal concluded that ICICI Bank UK PLC qualifies as a financial creditor under the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor acknowledged the creditor and undertook to repay the debt. The claim was found to be timely filed within the limitation period. The Debt Asset Swap Agreement and multi-party undertaking were deemed valid and enforceable obligations. The application under Section 7 of the Code was considered complete, leading to the admission of the petition and appointment of an Interim Resolution Professional. A moratorium under Section 14 of the Code was imposed to facilitate the Corporate Insolvency Resolution Process. en-us Tue, 26 Feb 2019 00:00:00 +0530 Wed, 19 Aug 2020 09:45:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289735 The Tribunal concluded that ICICI Bank UK PLC qualifies as a financial creditor under the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor acknowledged the creditor and undertook to repay the debt. The claim was found to be timely filed within the limitation period. The Debt Asset Swap Agreement and multi-party undertaking were deemed valid and enforceable obligations. The application under Section 7 of the Code was considered complete, leading to the admission of the petition and appointment of an Interim Resolution Professional. A moratorium under Section 14 of the Code was imposed to facilitate the Corporate Insolvency Resolution Process. Case-Laws Insolvency and Bankruptcy Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289735