https://www.taxtmi.com/caselaws?id=296763 The Tribunal approved the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, allowing the initiation of corporate insolvency resolution proceedings against a corporate debtor for defaulting on a financial debt exceeding Rs. 1 Lac. The Tribunal accepted the application, approved the Interim Resolution Professional (IRP), declared a moratorium, and set out the necessary steps for the Corporate Insolvency Resolution Process (CIRP). Another related application challenging the maintainability was dismissed as the financial creditor withdrew the claim from a prior proceeding, resolving the dispute. en-us Fri, 13 Mar 2020 00:00:00 +0530 Thu, 05 Aug 2021 20:47:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296763 The Tribunal approved the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, allowing the initiation of corporate insolvency resolution proceedings against a corporate debtor for defaulting on a financial debt exceeding Rs. 1 Lac. The Tribunal accepted the application, approved the Interim Resolution Professional (IRP), declared a moratorium, and set out the necessary steps for the Corporate Insolvency Resolution Process (CIRP). Another related application challenging the maintainability was dismissed as the financial creditor withdrew the claim from a prior proceeding, resolving the dispute. Case-Laws Insolvency and Bankruptcy Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296763