https://www.taxtmi.com/caselaws?id=296989 The court admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating Corporate Insolvency Resolution Process against the Corporate Debtor for a default amount of Rs. 8,44,15,488.00. An Interim Resolution Professional (IRP) was appointed, and a Moratorium under Section 14 of the Code was imposed, prohibiting legal actions against the Corporate Debtor. The judgment emphasized the continuation of essential services to the Corporate Debtor and outlined the duties and obligations of the IRP. The Financial Creditor was directed to pay fees and expenses to the IRP, ensuring compliance with legal procedures and safeguards. en-us Wed, 17 Feb 2021 00:00:00 +0530 Fri, 13 Aug 2021 21:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296989 The court admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating Corporate Insolvency Resolution Process against the Corporate Debtor for a default amount of Rs. 8,44,15,488.00. An Interim Resolution Professional (IRP) was appointed, and a Moratorium under Section 14 of the Code was imposed, prohibiting legal actions against the Corporate Debtor. The judgment emphasized the continuation of essential services to the Corporate Debtor and outlined the duties and obligations of the IRP. The Financial Creditor was directed to pay fees and expenses to the IRP, ensuring compliance with legal procedures and safeguards. Case-Laws Insolvency and Bankruptcy Wed, 17 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296989