https://www.taxtmi.com/caselaws?id=407187 The Tribunal ruled in favor of the Financial Creditor, Punjab National Bank, in the case against Corporate Debtor, Mithilanchal Industries Private Limited, for defaulting on a financial debt of Rs. 5,99,73,482. Despite the Corporate Debtor's disputes on the date of default and application maintainability, the Tribunal emphasized the acknowledgment of debt and upheld the application as timely filed within the limitation period. Consequently, the Tribunal admitted the Corporate Debtor to Corporate Insolvency Resolution Process (CIRP) and appointed an Interim Resolution Professional to oversee the process. en-us Thu, 15 Apr 2021 00:00:00 +0530 Sat, 01 May 2021 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407187 The Tribunal ruled in favor of the Financial Creditor, Punjab National Bank, in the case against Corporate Debtor, Mithilanchal Industries Private Limited, for defaulting on a financial debt of Rs. 5,99,73,482. Despite the Corporate Debtor's disputes on the date of default and application maintainability, the Tribunal emphasized the acknowledgment of debt and upheld the application as timely filed within the limitation period. Consequently, the Tribunal admitted the Corporate Debtor to Corporate Insolvency Resolution Process (CIRP) and appointed an Interim Resolution Professional to oversee the process. Case-Laws Insolvency and Bankruptcy Thu, 15 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407187