https://www.taxtmi.com/caselaws?id=296321 The court admitted the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against a Corporate Debtor for default in payment of financial debt. An Interim Resolution Professional was appointed, and a moratorium was declared. The Financial Creditor, who filed the petition, clarified the separate nature of the petition from previous ones against related Corporate Debtors, ensuring compliance with legal procedures. The court directed the Financial Creditor to deposit a specific amount for immediate expenses and instructed the IRP to proceed with necessary steps under the IBC. en-us Fri, 08 Nov 2019 00:00:00 +0530 Thu, 15 Jul 2021 08:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296321 The court admitted the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, against a Corporate Debtor for default in payment of financial debt. An Interim Resolution Professional was appointed, and a moratorium was declared. The Financial Creditor, who filed the petition, clarified the separate nature of the petition from previous ones against related Corporate Debtors, ensuring compliance with legal procedures. The court directed the Financial Creditor to deposit a specific amount for immediate expenses and instructed the IRP to proceed with necessary steps under the IBC. Case-Laws Insolvency and Bankruptcy Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296321