https://www.taxtmi.com/caselaws?id=398580 The Tribunal found in favor of the Operational Creditor, admitting the petition under section 9 of the IBC against the Corporate Debtor. This initiated the Corporate Insolvency Resolution Process (CIRP) and declared a moratorium under section 14 of the IBC. An Interim Resolution Professional (IRP) was appointed, and the Operational Creditor was ordered to deposit Rs. 3,00,000 with the IRP for expenses. The Corporate Debtor was found to have defaulted on the debt due and payable, leading to the initiation of insolvency proceedings. en-us Mon, 27 Jan 2020 00:00:00 +0530 Sat, 19 Sep 2020 17:04:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398580 The Tribunal found in favor of the Operational Creditor, admitting the petition under section 9 of the IBC against the Corporate Debtor. This initiated the Corporate Insolvency Resolution Process (CIRP) and declared a moratorium under section 14 of the IBC. An Interim Resolution Professional (IRP) was appointed, and the Operational Creditor was ordered to deposit Rs. 3,00,000 with the IRP for expenses. The Corporate Debtor was found to have defaulted on the debt due and payable, leading to the initiation of insolvency proceedings. Case-Laws Insolvency and Bankruptcy Mon, 27 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398580