https://www.taxtmi.com/caselaws?id=298011 The Tribunal admitted the petition filed by an operational creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC) against the Corporate Debtor due to its failure to repay financial debts, leading to the imposition of a moratorium under Section 14. The Corporate Debtor acknowledged the liability but expressed inability to repay, resulting in the appointment of an Interim Resolution Professional (IRP) to oversee the resolution process and fulfill statutory obligations under the Code. The Tribunal approved the appointment of the proposed IRP by the Operational Creditor, emphasizing their right to propose the IRP within the insolvency resolution process. en-us Mon, 09 Apr 2018 00:00:00 +0530 Tue, 05 Oct 2021 20:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298011 The Tribunal admitted the petition filed by an operational creditor under Section 9 of the Insolvency and Bankruptcy Code (IBC) against the Corporate Debtor due to its failure to repay financial debts, leading to the imposition of a moratorium under Section 14. The Corporate Debtor acknowledged the liability but expressed inability to repay, resulting in the appointment of an Interim Resolution Professional (IRP) to oversee the resolution process and fulfill statutory obligations under the Code. The Tribunal approved the appointment of the proposed IRP by the Operational Creditor, emphasizing their right to propose the IRP within the insolvency resolution process. Case-Laws Insolvency and Bankruptcy Mon, 09 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298011