https://www.taxtmi.com/caselaws?id=408380 The Tribunal admitted the application under section 7 of the Insolvency and Bankruptcy Code, finding the default in payment evident based on the Corporate Debtor's admission of debt in financial statements and confirmation of interest payable. The Tribunal upheld the Applicant's status as a financial creditor, dismissing objections raised by the Corporate Debtor regarding interest charges and limitation period. It asserted jurisdiction, appointed an Insolvency Resolution Professional, directed the Financial Creditor to deposit funds, and initiated the moratorium period in accordance with the IBC. en-us Mon, 31 May 2021 00:00:00 +0530 Tue, 08 Jun 2021 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408380 The Tribunal admitted the application under section 7 of the Insolvency and Bankruptcy Code, finding the default in payment evident based on the Corporate Debtor's admission of debt in financial statements and confirmation of interest payable. The Tribunal upheld the Applicant's status as a financial creditor, dismissing objections raised by the Corporate Debtor regarding interest charges and limitation period. It asserted jurisdiction, appointed an Insolvency Resolution Professional, directed the Financial Creditor to deposit funds, and initiated the moratorium period in accordance with the IBC. Case-Laws Insolvency and Bankruptcy Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408380