https://www.taxtmi.com/caselaws?id=407733 The Tribunal found the petition maintainable, validated the Facility Loan Agreement despite stamping issues, disregarded the value of secured assets in determining default, approved the Petitioner's revised claim, allowed CIRP initiation despite a pending Commercial Summary Suit, confirmed default due to settlement failures, appointed an IRP without pending disciplinary proceedings, and declared a moratorium under Section 14 of the IBC. CIRP was initiated against the Respondent, with Mr. Arun Kapoor appointed as IRP, and a moratorium imposed until CIRP completion or liquidation approval. Petitioner was directed to deposit Rs. 3,00,000 with the IRP for expenses. en-us Fri, 07 May 2021 00:00:00 +0530 Thu, 20 May 2021 08:29:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407733 The Tribunal found the petition maintainable, validated the Facility Loan Agreement despite stamping issues, disregarded the value of secured assets in determining default, approved the Petitioner's revised claim, allowed CIRP initiation despite a pending Commercial Summary Suit, confirmed default due to settlement failures, appointed an IRP without pending disciplinary proceedings, and declared a moratorium under Section 14 of the IBC. CIRP was initiated against the Respondent, with Mr. Arun Kapoor appointed as IRP, and a moratorium imposed until CIRP completion or liquidation approval. Petitioner was directed to deposit Rs. 3,00,000 with the IRP for expenses. Case-Laws Insolvency and Bankruptcy Fri, 07 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407733