https://www.taxtmi.com/caselaws?id=411622 The Tribunal allowed the Company Petition filed by Ultratech Cement Limited, an Operational Creditor, initiating the Corporate Insolvency Resolution Process (CIRP) against Schema Enterprises Pvt. Ltd., the Corporate Debtor, for defaulting on payment. Mr. Balaji Shrirang Sagar was appointed as the Interim Resolution Professional (IRP). The Operational Creditor was directed to deposit an initial CIRP cost of Rs. 2 lakh. Various prohibitions were imposed on the Corporate Debtor during the CIRP, with essential goods or services supply mandated to continue uninterrupted. The moratorium period was to remain in effect until completion of the CIRP or approval of a resolution plan. en-us Tue, 10 Aug 2021 00:00:00 +0530 Tue, 31 Aug 2021 09:18:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411622 The Tribunal allowed the Company Petition filed by Ultratech Cement Limited, an Operational Creditor, initiating the Corporate Insolvency Resolution Process (CIRP) against Schema Enterprises Pvt. Ltd., the Corporate Debtor, for defaulting on payment. Mr. Balaji Shrirang Sagar was appointed as the Interim Resolution Professional (IRP). The Operational Creditor was directed to deposit an initial CIRP cost of Rs. 2 lakh. Various prohibitions were imposed on the Corporate Debtor during the CIRP, with essential goods or services supply mandated to continue uninterrupted. The moratorium period was to remain in effect until completion of the CIRP or approval of a resolution plan. Case-Laws Insolvency and Bankruptcy Tue, 10 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411622