https://www.taxtmi.com/caselaws?id=398774 The court allowed the initiation of Corporate Insolvency Resolution Process under Section 7 of the Insolvency & Bankruptcy Code against the corporate debtor due to default in repayment, establishing financial debt. The application met legal requirements, leading to its admission. The court clarified that an amendment suspending initiation did not apply in this case. Mr. Bhrugesh Amin was appointed as the Interim Resolution Professional to oversee the process, ensuring compliance with statutory provisions for a smooth resolution process. en-us Thu, 11 Jun 2020 00:00:00 +0530 Thu, 24 Sep 2020 09:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398774 The court allowed the initiation of Corporate Insolvency Resolution Process under Section 7 of the Insolvency & Bankruptcy Code against the corporate debtor due to default in repayment, establishing financial debt. The application met legal requirements, leading to its admission. The court clarified that an amendment suspending initiation did not apply in this case. Mr. Bhrugesh Amin was appointed as the Interim Resolution Professional to oversee the process, ensuring compliance with statutory provisions for a smooth resolution process. Case-Laws Insolvency and Bankruptcy Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398774