https://www.taxtmi.com/caselaws?id=405942 The Tribunal admitted the Financial Creditor's application for Corporate Insolvency Resolution Process against the Corporate Debtor due to default in payment. Despite a settlement agreement, the Corporate Debtor failed to comply, leading to the reinstatement of the original application. Objections regarding Director disqualification were dismissed, and an Interim Resolution Professional was appointed to oversee the process. The Tribunal issued specific directions and restrictions, including the deposit of a specified amount by the Financial Creditor to initiate proceedings, subject to Committee of Creditors' approval. en-us Tue, 30 Mar 2021 00:00:00 +0530 Fri, 02 Apr 2021 09:14:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405942 The Tribunal admitted the Financial Creditor's application for Corporate Insolvency Resolution Process against the Corporate Debtor due to default in payment. Despite a settlement agreement, the Corporate Debtor failed to comply, leading to the reinstatement of the original application. Objections regarding Director disqualification were dismissed, and an Interim Resolution Professional was appointed to oversee the process. The Tribunal issued specific directions and restrictions, including the deposit of a specified amount by the Financial Creditor to initiate proceedings, subject to Committee of Creditors' approval. Case-Laws Insolvency and Bankruptcy Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405942