https://www.taxtmi.com/caselaws?id=294073 The Adjudicating Authority admitted Bank of India's application under section 7 of the Insolvency and Bankruptcy Code, 2016 against RNA Corp. P. Ltd. for defaulting on a corporate term loan of Rs. 75,00,00,000. Despite the corporate debtor's contentions of regular payments and market challenges, the Authority found in favor of the petitioner, establishing the debt and default. Consequently, a moratorium was imposed, appointing an interim resolution professional and initiating the corporate insolvency resolution process. en-us Tue, 26 Nov 2019 00:00:00 +0530 Fri, 19 Mar 2021 09:18:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294073 The Adjudicating Authority admitted Bank of India's application under section 7 of the Insolvency and Bankruptcy Code, 2016 against RNA Corp. P. Ltd. for defaulting on a corporate term loan of Rs. 75,00,00,000. Despite the corporate debtor's contentions of regular payments and market challenges, the Authority found in favor of the petitioner, establishing the debt and default. Consequently, a moratorium was imposed, appointing an interim resolution professional and initiating the corporate insolvency resolution process. Case-Laws Insolvency and Bankruptcy Tue, 26 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294073