https://www.taxtmi.com/caselaws?id=407906 The Tribunal admitted the application under section 9(5) of the Insolvency and Bankruptcy Code, 2016, allowing the Applicant, a private limited company, to initiate Corporate Insolvency proceedings against the Corporate Debtor, another private limited company, due to the established default in payment of outstanding dues amounting to Rs. 1,55,79,348. An Insolvency Resolution Professional (IRP) was appointed by the Tribunal, and operational creditors were directed to deposit funds for expenses. A moratorium period was imposed on the Corporate Debtor as per Section 14(1) of the Code. en-us Mon, 17 May 2021 00:00:00 +0530 Wed, 26 May 2021 08:41:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407906 The Tribunal admitted the application under section 9(5) of the Insolvency and Bankruptcy Code, 2016, allowing the Applicant, a private limited company, to initiate Corporate Insolvency proceedings against the Corporate Debtor, another private limited company, due to the established default in payment of outstanding dues amounting to Rs. 1,55,79,348. An Insolvency Resolution Professional (IRP) was appointed by the Tribunal, and operational creditors were directed to deposit funds for expenses. A moratorium period was imposed on the Corporate Debtor as per Section 14(1) of the Code. Case-Laws Insolvency and Bankruptcy Mon, 17 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407906