https://www.taxtmi.com/caselaws?id=410576 The Tribunal admitted the Operational Creditor's petition to initiate Corporate Insolvency Resolution Process against the Corporate Debtor for non-payment of dues. An Insolvency Professional was appointed as the Interim Resolution Professional to manage the Corporate Debtor's affairs, and a moratorium was declared. The Tribunal found merit in the petition due to the Corporate Debtor's acknowledgment of debt and non-payment, leading to the initiation of CIRP to resolve the outstanding dues effectively. en-us Fri, 23 Jul 2021 00:00:00 +0530 Thu, 05 Aug 2021 08:43:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410576 The Tribunal admitted the Operational Creditor's petition to initiate Corporate Insolvency Resolution Process against the Corporate Debtor for non-payment of dues. An Insolvency Professional was appointed as the Interim Resolution Professional to manage the Corporate Debtor's affairs, and a moratorium was declared. The Tribunal found merit in the petition due to the Corporate Debtor's acknowledgment of debt and non-payment, leading to the initiation of CIRP to resolve the outstanding dues effectively. Case-Laws Insolvency and Bankruptcy Fri, 23 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410576