https://www.taxtmi.com/caselaws?id=410010 The Company petition under section 7 of the Insolvency and Bankruptcy Code, 2016 seeking Corporate Insolvency Resolution Process (CIRP) against a Private Company for default in payment of a Financial Debt was successful. The Respondent did not contest the petition, leading to an ex parte hearing where the debt was admitted. An Interim Resolution Professional was appointed, and the CIRP was ordered to commence with a moratorium under section 14 of the IBC, including management directives, compliance requirements, and communication protocols for effective implementation. en-us Thu, 13 May 2021 00:00:00 +0530 Wed, 21 Jul 2021 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410010 The Company petition under section 7 of the Insolvency and Bankruptcy Code, 2016 seeking Corporate Insolvency Resolution Process (CIRP) against a Private Company for default in payment of a Financial Debt was successful. The Respondent did not contest the petition, leading to an ex parte hearing where the debt was admitted. An Interim Resolution Professional was appointed, and the CIRP was ordered to commence with a moratorium under section 14 of the IBC, including management directives, compliance requirements, and communication protocols for effective implementation. Case-Laws Insolvency and Bankruptcy Thu, 13 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410010