https://www.taxtmi.com/caselaws?id=410429 The Tribunal admitted the Company Petition filed by the Petitioner, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor for defaulting on payments totaling USD 216,344.04. The Corporate Debtor acknowledged the debt but failed to repay, leading to the admission of the petition. Mr. Adesh Kumar Gupta was appointed as the Interim Resolution Professional to oversee the process, and the Operational Creditor was directed to deposit Rs. 5 Lakh for initial CIRP costs. Various restrictions were imposed during the CIRP period to manage the Corporate Debtor's affairs until completion of the resolution process. en-us Wed, 30 Jun 2021 00:00:00 +0530 Mon, 02 Aug 2021 09:03:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410429 The Tribunal admitted the Company Petition filed by the Petitioner, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor for defaulting on payments totaling USD 216,344.04. The Corporate Debtor acknowledged the debt but failed to repay, leading to the admission of the petition. Mr. Adesh Kumar Gupta was appointed as the Interim Resolution Professional to oversee the process, and the Operational Creditor was directed to deposit Rs. 5 Lakh for initial CIRP costs. Various restrictions were imposed during the CIRP period to manage the Corporate Debtor's affairs until completion of the resolution process. Case-Laws Insolvency and Bankruptcy Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410429