https://www.taxtmi.com/caselaws?id=407550 The Tribunal initiated Corporate Insolvency Resolution Process (CIRP) against the Respondent, a Corporate Debtor, based on the Petitioner's claim of operational debt default. The Respondent's denial of debt and counterclaims were dismissed for lack of evidence. The Tribunal found the Petitioner's evidence of fraudulent invoices and non-delivery of goods credible, leading to the imposition of a moratorium under Section 14 of the Insolvency and Bankruptcy Code. Mr. Devendra Umrao was appointed as the Interim Resolution Professional (IRP) to oversee the process, with the Applicant directed to deposit funds for immediate expenses. en-us Mon, 19 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 08:32:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407550 The Tribunal initiated Corporate Insolvency Resolution Process (CIRP) against the Respondent, a Corporate Debtor, based on the Petitioner's claim of operational debt default. The Respondent's denial of debt and counterclaims were dismissed for lack of evidence. The Tribunal found the Petitioner's evidence of fraudulent invoices and non-delivery of goods credible, leading to the imposition of a moratorium under Section 14 of the Insolvency and Bankruptcy Code. Mr. Devendra Umrao was appointed as the Interim Resolution Professional (IRP) to oversee the process, with the Applicant directed to deposit funds for immediate expenses. Case-Laws Insolvency and Bankruptcy Mon, 19 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407550