https://www.taxtmi.com/caselaws?id=399515 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, citing compliance with Sections 8 and 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Debtor failed to raise a valid pre-existing dispute within the stipulated period, leading to the admission of the application. An Interim Resolution Professional (IRP) was appointed, and the Operational Creditor was directed to deposit funds for immediate expenses. The decision highlights the significance of adhering to statutory timelines and requirements under the IBC. en-us Tue, 02 Jun 2020 00:00:00 +0530 Tue, 13 Oct 2020 12:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399515 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, citing compliance with Sections 8 and 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Debtor failed to raise a valid pre-existing dispute within the stipulated period, leading to the admission of the application. An Interim Resolution Professional (IRP) was appointed, and the Operational Creditor was directed to deposit funds for immediate expenses. The decision highlights the significance of adhering to statutory timelines and requirements under the IBC. Case-Laws Insolvency and Bankruptcy Tue, 02 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399515