https://www.taxtmi.com/caselaws?id=413761 The Tribunal confirmed jurisdiction over the Corporate Debtor's case and admitted the petition for initiating Corporate Insolvency Resolution Process (CIRP) due to default in payment exceeding Rs. 1 lakh. The Corporate Debtor's acknowledgment of liability and partial payments supported the Operational Creditor's claim. An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was declared, suspending suits, asset transfers, and enforcing security interests. The order aimed to safeguard the Operational Creditor's rights and ensure compliance with the Insolvency and Bankruptcy Code provisions. en-us Mon, 02 Aug 2021 00:00:00 +0530 Wed, 20 Oct 2021 09:11:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413761 The Tribunal confirmed jurisdiction over the Corporate Debtor's case and admitted the petition for initiating Corporate Insolvency Resolution Process (CIRP) due to default in payment exceeding Rs. 1 lakh. The Corporate Debtor's acknowledgment of liability and partial payments supported the Operational Creditor's claim. An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was declared, suspending suits, asset transfers, and enforcing security interests. The order aimed to safeguard the Operational Creditor's rights and ensure compliance with the Insolvency and Bankruptcy Code provisions. Case-Laws Insolvency and Bankruptcy Mon, 02 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413761