https://www.taxtmi.com/caselaws?id=290428 The Tribunal admitted the petition filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). The default amount exceeded the minimum threshold, justifying the initiation of the Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was imposed, preventing suits against the Corporate Debtor and ensuring the supply of essential goods or services. The Tribunal directed immediate public announcement of the CIRP, mandated IRP functions per the IBC, and set a progress report deadline for 13.08.2018. en-us Wed, 25 Jul 2018 00:00:00 +0530 Fri, 25 Sep 2020 20:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290428 The Tribunal admitted the petition filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). The default amount exceeded the minimum threshold, justifying the initiation of the Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was imposed, preventing suits against the Corporate Debtor and ensuring the supply of essential goods or services. The Tribunal directed immediate public announcement of the CIRP, mandated IRP functions per the IBC, and set a progress report deadline for 13.08.2018. Case-Laws Insolvency and Bankruptcy Wed, 25 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290428