https://www.taxtmi.com/caselaws?id=410436 The Financial Creditor filed a Company Petition under section 7 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor due to default in loan repayments. The Corporate Debtor admitted liability and inability to repay, leading to the appointment of an Interim Resolution Professional. A moratorium was declared under section 14 of the IBC, and the Financial Creditor was directed to deposit funds for expenses. The Tribunal admitted the Petition, initiating the Corporate Insolvency Resolution Process and outlining duties during the process. en-us Mon, 12 Jul 2021 00:00:00 +0530 Mon, 02 Aug 2021 09:03:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410436 The Financial Creditor filed a Company Petition under section 7 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor due to default in loan repayments. The Corporate Debtor admitted liability and inability to repay, leading to the appointment of an Interim Resolution Professional. A moratorium was declared under section 14 of the IBC, and the Financial Creditor was directed to deposit funds for expenses. The Tribunal admitted the Petition, initiating the Corporate Insolvency Resolution Process and outlining duties during the process. Case-Laws Insolvency and Bankruptcy Mon, 12 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410436