https://www.taxtmi.com/caselaws?id=408156 The Tribunal admitted the petition filed by the Operational Creditor (OC) to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor (CD) for default in settling dues. Compliance with the Insolvency and Bankruptcy Code was examined, with the OC providing evidence of debt and default. The CD acknowledged the liability but raised concerns about interest. The Tribunal appointed an Interim Resolution Professional (IRP), declared a moratorium, and directed the OC to deposit fees for immediate expenses, to be reimbursed by the Committee of Creditors (CoC) as part of CIRP costs. en-us Tue, 06 Apr 2021 00:00:00 +0530 Wed, 02 Jun 2021 08:39:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408156 The Tribunal admitted the petition filed by the Operational Creditor (OC) to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor (CD) for default in settling dues. Compliance with the Insolvency and Bankruptcy Code was examined, with the OC providing evidence of debt and default. The CD acknowledged the liability but raised concerns about interest. The Tribunal appointed an Interim Resolution Professional (IRP), declared a moratorium, and directed the OC to deposit fees for immediate expenses, to be reimbursed by the Committee of Creditors (CoC) as part of CIRP costs. Case-Laws Insolvency and Bankruptcy Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408156