https://www.taxtmi.com/caselaws?id=399188 The Tribunal admitted the petition for initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to non-payment of the operational debt. A moratorium was declared under Section 14 of the Insolvency and Bankruptcy Code, suspending legal actions against the debtor and appointing an Interim Resolution Professional (IRP) to oversee the process. The IRP was tasked with managing the debtor's affairs, forming a Committee of Creditors, and providing regular progress reports to the Tribunal. The application for a stay on alienation of assets was dismissed following the admission of the CIRP. en-us Fri, 14 Feb 2020 00:00:00 +0530 Tue, 06 Oct 2020 11:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399188 The Tribunal admitted the petition for initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to non-payment of the operational debt. A moratorium was declared under Section 14 of the Insolvency and Bankruptcy Code, suspending legal actions against the debtor and appointing an Interim Resolution Professional (IRP) to oversee the process. The IRP was tasked with managing the debtor's affairs, forming a Committee of Creditors, and providing regular progress reports to the Tribunal. The application for a stay on alienation of assets was dismissed following the admission of the CIRP. Case-Laws Insolvency and Bankruptcy Fri, 14 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399188