https://www.taxtmi.com/caselaws?id=398916 The Tribunal upheld the Adjudicating Authority's decision to admit the application under Section 9 of IBC for the unpaid debt of Rs. 3,67,200 related to the 30 GPS trackers. The interim stay on the constitution of the Committee of Creditors was vacated, and the Interim Resolution Professional was directed to proceed with the Corporate Insolvency Resolution Process. The Tribunal emphasized that the IBC aims to resolve insolvency issues without unduly penalizing operational entities for minor defaults. en-us Fri, 25 Sep 2020 00:00:00 +0530 Sat, 13 Mar 2021 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398916 The Tribunal upheld the Adjudicating Authority's decision to admit the application under Section 9 of IBC for the unpaid debt of Rs. 3,67,200 related to the 30 GPS trackers. The interim stay on the constitution of the Committee of Creditors was vacated, and the Interim Resolution Professional was directed to proceed with the Corporate Insolvency Resolution Process. The Tribunal emphasized that the IBC aims to resolve insolvency issues without unduly penalizing operational entities for minor defaults. Case-Laws Insolvency and Bankruptcy Fri, 25 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398916