https://www.taxtmi.com/caselaws?id=293220 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, M/s. Glaze Infrastructure Private Limited, due to its failure to discharge an admitted outstanding debt of &8377; 1,05,17,735. A moratorium was declared, and an Interim Resolution Professional (IRP) was appointed to oversee the process, with restrictions imposed on suits, asset transfers, and property recovery. The Operational Creditor was directed to deposit funds for initial expenses, and further directions were given for the management of the insolvency proceedings in accordance with the Insolvency & Bankruptcy Code, 2016. en-us Mon, 25 Nov 2019 00:00:00 +0530 Sat, 30 Jan 2021 23:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293220 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process against the Corporate Debtor, M/s. Glaze Infrastructure Private Limited, due to its failure to discharge an admitted outstanding debt of &8377; 1,05,17,735. A moratorium was declared, and an Interim Resolution Professional (IRP) was appointed to oversee the process, with restrictions imposed on suits, asset transfers, and property recovery. The Operational Creditor was directed to deposit funds for initial expenses, and further directions were given for the management of the insolvency proceedings in accordance with the Insolvency & Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Mon, 25 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293220