https://www.taxtmi.com/caselaws?id=290457 The Tribunal found the petition maintainable under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the Petitioners provided sufficient evidence. The Corporate Debtor's admission of debt in its financial statements supported the existence of financial debt owed to the Petitioners. Allegations of financial fraud by the Petitioners were deemed unsubstantiated. The Tribunal admitted the petition, appointed an Interim Resolution Professional, commenced the Corporate Insolvency Resolution Process, and declared a moratorium. The Petitioners were recognized as financial creditors, and necessary measures were ordered to facilitate the CIRP. en-us Thu, 13 Feb 2020 00:00:00 +0530 Sun, 27 Sep 2020 12:49:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290457 The Tribunal found the petition maintainable under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the Petitioners provided sufficient evidence. The Corporate Debtor's admission of debt in its financial statements supported the existence of financial debt owed to the Petitioners. Allegations of financial fraud by the Petitioners were deemed unsubstantiated. The Tribunal admitted the petition, appointed an Interim Resolution Professional, commenced the Corporate Insolvency Resolution Process, and declared a moratorium. The Petitioners were recognized as financial creditors, and necessary measures were ordered to facilitate the CIRP. Case-Laws Insolvency and Bankruptcy Thu, 13 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290457