https://www.taxtmi.com/caselaws?id=297898 The Tribunal admitted the corporate debtor into Corporate Insolvency Resolution Process (CIRP) due to default in payment. The Resolution Professional (RP) was appointed, and the Committee of Creditors (COC) confirmed his role. The RP sought direction to restrain respondents from disturbing his possession in properties based on an MOU. The Tribunal clarified the RP's possession rights under the Insolvency & Bankruptcy Code, confirming his authority to manage the CIRP. A modification application regarding possession was granted, allowing the RP to continue activities. The Tribunal upheld the RP's possession rights and emphasized protection under the Code, disposing of both applications in favor of the RP and the applicant. en-us Wed, 12 Feb 2020 00:00:00 +0530 Wed, 29 Sep 2021 11:02:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297898 The Tribunal admitted the corporate debtor into Corporate Insolvency Resolution Process (CIRP) due to default in payment. The Resolution Professional (RP) was appointed, and the Committee of Creditors (COC) confirmed his role. The RP sought direction to restrain respondents from disturbing his possession in properties based on an MOU. The Tribunal clarified the RP's possession rights under the Insolvency & Bankruptcy Code, confirming his authority to manage the CIRP. A modification application regarding possession was granted, allowing the RP to continue activities. The Tribunal upheld the RP's possession rights and emphasized protection under the Code, disposing of both applications in favor of the RP and the applicant. Case-Laws Insolvency and Bankruptcy Wed, 12 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297898