https://www.taxtmi.com/caselaws?id=398627 The NCLT admitted the Company Petition under section 9 of the IBC against the Corporate Debtor, finding the debt and default established by the Operational Creditor. Consequently, the NCLT initiated the CIRP, appointing an IRP and imposing a moratorium under section 14 of the IBC. Operational procedures were outlined, including responsibilities of the IRP and management of the Corporate Debtor during CIRP. The order also mandated communication to relevant parties and compliance measures, ensuring the resolution process's proper initiation and progression. en-us Fri, 18 Sep 2020 00:00:00 +0530 Mon, 21 Sep 2020 10:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398627 The NCLT admitted the Company Petition under section 9 of the IBC against the Corporate Debtor, finding the debt and default established by the Operational Creditor. Consequently, the NCLT initiated the CIRP, appointing an IRP and imposing a moratorium under section 14 of the IBC. Operational procedures were outlined, including responsibilities of the IRP and management of the Corporate Debtor during CIRP. The order also mandated communication to relevant parties and compliance measures, ensuring the resolution process's proper initiation and progression. Case-Laws Insolvency and Bankruptcy Fri, 18 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398627