https://www.taxtmi.com/caselaws?id=398957 The Tribunal directed the suspended Board of Directors to cooperate with the Interim Resolution Professional (IRP) to complete the Corporate Insolvency Resolution Process (CIRP) promptly. Serious allegations of non-cooperation, interference, unauthorized transactions, and obstruction by the directors were noted, leading to directions for refunding amounts, avoiding contempt proceedings, expediting audit processes, and submitting viable resolution plans. Violations of the Insolvency and Bankruptcy Code, 2016 were addressed, with the Tribunal emphasizing the importance of cooperation and compliance to ensure the smooth resolution of the company's insolvency. en-us Wed, 20 May 2020 00:00:00 +0530 Tue, 29 Sep 2020 06:24:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398957 The Tribunal directed the suspended Board of Directors to cooperate with the Interim Resolution Professional (IRP) to complete the Corporate Insolvency Resolution Process (CIRP) promptly. Serious allegations of non-cooperation, interference, unauthorized transactions, and obstruction by the directors were noted, leading to directions for refunding amounts, avoiding contempt proceedings, expediting audit processes, and submitting viable resolution plans. Violations of the Insolvency and Bankruptcy Code, 2016 were addressed, with the Tribunal emphasizing the importance of cooperation and compliance to ensure the smooth resolution of the company's insolvency. Case-Laws Insolvency and Bankruptcy Wed, 20 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398957