https://www.taxtmi.com/caselaws?id=293863 The Tribunal admitted the financial creditors' application, initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to failure to hand over possession of the property and confirm the debt's due status. The proposed resolution professional was accepted, and a moratorium was declared, prohibiting legal actions against the debtor during CIRP. The Interim Resolution Professional (IRP) was instructed to assume control immediately and ensure compliance with the Insolvency and Bankruptcy Code, 2016. The order was pronounced in open court, with no costs awarded, and a copy was provided to the corporate debtor without charge. en-us Thu, 28 Nov 2019 00:00:00 +0530 Tue, 12 Nov 2024 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293863 The Tribunal admitted the financial creditors' application, initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to failure to hand over possession of the property and confirm the debt's due status. The proposed resolution professional was accepted, and a moratorium was declared, prohibiting legal actions against the debtor during CIRP. The Interim Resolution Professional (IRP) was instructed to assume control immediately and ensure compliance with the Insolvency and Bankruptcy Code, 2016. The order was pronounced in open court, with no costs awarded, and a copy was provided to the corporate debtor without charge. Case-Laws IBC Thu, 28 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293863