https://www.taxtmi.com/caselaws?id=298327 The Tribunal approved the initiation of Corporate Insolvency Resolution Process under Section 7 of the Insolvency & Bankruptcy Code, 2016, due to the default in loan repayment by the Corporate Debtor. The Tribunal found the debt qualified as "Financial Debt" and established the Debtor's default, leading to the appointment of an Interim Resolution Professional and the declaration of a moratorium. The process commenced with the IRP overseeing the resolution process and ensuring compliance with the Code's provisions until resolution completion. en-us Mon, 23 Sep 2019 00:00:00 +0530 Wed, 27 Oct 2021 09:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298327 The Tribunal approved the initiation of Corporate Insolvency Resolution Process under Section 7 of the Insolvency & Bankruptcy Code, 2016, due to the default in loan repayment by the Corporate Debtor. The Tribunal found the debt qualified as "Financial Debt" and established the Debtor's default, leading to the appointment of an Interim Resolution Professional and the declaration of a moratorium. The process commenced with the IRP overseeing the resolution process and ensuring compliance with the Code's provisions until resolution completion. Case-Laws Insolvency and Bankruptcy Mon, 23 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298327