https://www.taxtmi.com/caselaws?id=404837 The tribunal admitted the application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against the corporate debtor. Despite objections raised by the corporate debtor regarding the loan repayment, lack of loan agreement, and dispute over the nature of the amount received, the tribunal found the application valid. The corporate debtor admitted the debt during the hearing, leading to the appointment of an Interim Resolution Professional to oversee the insolvency resolution process. The tribunal directed the applicant to deposit funds for expenses, ensuring compliance with regulatory requirements for insolvency proceedings. en-us Mon, 01 Mar 2021 00:00:00 +0530 Fri, 05 Mar 2021 09:40:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404837 The tribunal admitted the application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against the corporate debtor. Despite objections raised by the corporate debtor regarding the loan repayment, lack of loan agreement, and dispute over the nature of the amount received, the tribunal found the application valid. The corporate debtor admitted the debt during the hearing, leading to the appointment of an Interim Resolution Professional to oversee the insolvency resolution process. The tribunal directed the applicant to deposit funds for expenses, ensuring compliance with regulatory requirements for insolvency proceedings. Case-Laws Insolvency and Bankruptcy Mon, 01 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404837