https://www.taxtmi.com/caselaws?id=406825 The court granted the application under Section 9 of the IBC, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. RS Seven Lifestyle Private Limited, due to non-payment of a debt totaling Rs. 34,54,635/-. The Operational Creditor, a sports apparel manufacturing firm, fulfilled all legal requirements, leading to the appointment of an Interim Resolution Professional (IRP) and declaration of a moratorium. The IRP was directed to manage the Corporate Debtor's assets, with cooperation expected from the relevant parties. en-us Thu, 01 Apr 2021 00:00:00 +0530 Sat, 24 Apr 2021 09:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406825 The court granted the application under Section 9 of the IBC, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, M/s. RS Seven Lifestyle Private Limited, due to non-payment of a debt totaling Rs. 34,54,635/-. The Operational Creditor, a sports apparel manufacturing firm, fulfilled all legal requirements, leading to the appointment of an Interim Resolution Professional (IRP) and declaration of a moratorium. The IRP was directed to manage the Corporate Debtor's assets, with cooperation expected from the relevant parties. Case-Laws Insolvency and Bankruptcy Thu, 01 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406825