https://www.taxtmi.com/caselaws?id=404784 The Tribunal admitted the application under Section 9 of the IBC, finding the Corporate Debtor in default of a debt exceeding the minimum amount specified in Section 4(1) of the IBC. Consequently, the Corporate Insolvency Resolution Process (CIRP) was initiated, appointing an Interim Resolution Professional and declaring a moratorium under Section 14 of the IBC. The Operational Creditor was directed to deposit funds for CIRP expenses, and communication of the order to relevant parties and the Registrar of Companies was mandated. en-us Fri, 26 Feb 2021 00:00:00 +0530 Thu, 04 Mar 2021 08:26:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404784 The Tribunal admitted the application under Section 9 of the IBC, finding the Corporate Debtor in default of a debt exceeding the minimum amount specified in Section 4(1) of the IBC. Consequently, the Corporate Insolvency Resolution Process (CIRP) was initiated, appointing an Interim Resolution Professional and declaring a moratorium under Section 14 of the IBC. The Operational Creditor was directed to deposit funds for CIRP expenses, and communication of the order to relevant parties and the Registrar of Companies was mandated. Case-Laws Insolvency and Bankruptcy Fri, 26 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404784