https://www.taxtmi.com/caselaws?id=290725 The Tribunal admitted the petition for the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for an unpaid operational debt. The Tribunal found that the operational debt existed, was due, and the default had occurred, leading to the appointment of an Interim Resolution Professional (IRP) to manage the process. A moratorium was declared, and the IRP was directed to protect the Corporate Debtor's property in accordance with the Insolvency and Bankruptcy Code, 2016. The petition was admitted with necessary observations and directions. en-us Fri, 13 Mar 2020 00:00:00 +0530 Fri, 12 Mar 2021 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290725 The Tribunal admitted the petition for the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for an unpaid operational debt. The Tribunal found that the operational debt existed, was due, and the default had occurred, leading to the appointment of an Interim Resolution Professional (IRP) to manage the process. A moratorium was declared, and the IRP was directed to protect the Corporate Debtor's property in accordance with the Insolvency and Bankruptcy Code, 2016. The petition was admitted with necessary observations and directions. Case-Laws Insolvency and Bankruptcy Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290725