https://www.taxtmi.com/caselaws?id=293804 The petition filed by IDFC First Bank Limited against Ashapura Intimates Fashion Limited under Section 7 of the Insolvency & Bankruptcy Code, 2016, due to a total default of &8377; 40,13,35,178 was admitted. A moratorium under Section 14 of the I&B Code was declared. The Corporate Debtor's failure to create and perfect security, leading to demands for repayment, resulted in legal actions by the Financial Creditor. The Corporate Debtor admitted liability, and an Interim Resolution Professional was appointed to initiate the corporate insolvency resolution process. en-us Fri, 28 Jun 2019 00:00:00 +0530 Thu, 04 Mar 2021 08:23:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293804 The petition filed by IDFC First Bank Limited against Ashapura Intimates Fashion Limited under Section 7 of the Insolvency & Bankruptcy Code, 2016, due to a total default of &8377; 40,13,35,178 was admitted. A moratorium under Section 14 of the I&B Code was declared. The Corporate Debtor's failure to create and perfect security, leading to demands for repayment, resulted in legal actions by the Financial Creditor. The Corporate Debtor admitted liability, and an Interim Resolution Professional was appointed to initiate the corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293804