https://www.taxtmi.com/caselaws?id=407374 The Tribunal admitted the Corporate Debtor into insolvency resolution process under Section 9 of the Insolvency and Bankruptcy Code due to default in operational debt payment. The Corporate Debtor admitted the debt but failed to make payments, leading to the appointment of an Interim Resolution Professional (IRP) to oversee the resolution process. A moratorium was declared, prohibiting actions against the Corporate Debtor. The Operational Creditor was directed to pay an advance for the resolution process, emphasizing cooperation among all parties involved. Procedural directives were issued for the smooth conduct of the resolution process. en-us Mon, 03 May 2021 00:00:00 +0530 Sat, 08 May 2021 08:18:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407374 The Tribunal admitted the Corporate Debtor into insolvency resolution process under Section 9 of the Insolvency and Bankruptcy Code due to default in operational debt payment. The Corporate Debtor admitted the debt but failed to make payments, leading to the appointment of an Interim Resolution Professional (IRP) to oversee the resolution process. A moratorium was declared, prohibiting actions against the Corporate Debtor. The Operational Creditor was directed to pay an advance for the resolution process, emphasizing cooperation among all parties involved. Procedural directives were issued for the smooth conduct of the resolution process. Case-Laws Insolvency and Bankruptcy Mon, 03 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407374