https://www.taxtmi.com/caselaws?id=407469 The Application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by M/s. JKS THE BANYAAN PRIVATE LIMITED ("Petitioner") was admitted following a remand order from the NCLAT. The NCLAT's findings established the debt and default by the Corporate Debtor, leading to the setting aside of the Tribunal's dismissal order. Consequently, the judgment initiates the Corporate Insolvency Resolution Process (CIRP) under the Code, appointing an Interim Resolution Professional (IRP) to oversee the proceedings. The admission triggers a moratorium under Section 14(1) of the IBC, 2016, imposing restrictions on legal actions, asset transfers, and enforcement of security interests until the completion of the resolution process. en-us Fri, 23 Apr 2021 00:00:00 +0530 Wed, 12 May 2021 08:28:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407469 The Application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by M/s. JKS THE BANYAAN PRIVATE LIMITED ("Petitioner") was admitted following a remand order from the NCLAT. The NCLAT's findings established the debt and default by the Corporate Debtor, leading to the setting aside of the Tribunal's dismissal order. Consequently, the judgment initiates the Corporate Insolvency Resolution Process (CIRP) under the Code, appointing an Interim Resolution Professional (IRP) to oversee the proceedings. The admission triggers a moratorium under Section 14(1) of the IBC, 2016, imposing restrictions on legal actions, asset transfers, and enforcement of security interests until the completion of the resolution process. Case-Laws Insolvency and Bankruptcy Fri, 23 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407469