https://www.taxtmi.com/caselaws?id=298658 The National Company Law Appellate Tribunal directed the inclusion of the Corporate Debtor through the Interim Resolution Professional as Respondent No. 2 in a case involving a stay on the Corporate Insolvency Resolution Process (CIRP) due to a preexisting dispute. The tribunal ordered the handover of the corporate debtor's assets and records to the IRP, allowing the IRP to operate the company's bank accounts for essential functions. The tribunal emphasized adherence to the time-bound procedures under the Insolvency and Bankruptcy Code (IBC) and the need to avoid delays that could hinder the IBC's objectives, while also highlighting the importance of further examination regarding the nature of a dispute. en-us Wed, 18 Aug 2021 00:00:00 +0530 Sat, 13 Nov 2021 20:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298658 The National Company Law Appellate Tribunal directed the inclusion of the Corporate Debtor through the Interim Resolution Professional as Respondent No. 2 in a case involving a stay on the Corporate Insolvency Resolution Process (CIRP) due to a preexisting dispute. The tribunal ordered the handover of the corporate debtor's assets and records to the IRP, allowing the IRP to operate the company's bank accounts for essential functions. The tribunal emphasized adherence to the time-bound procedures under the Insolvency and Bankruptcy Code (IBC) and the need to avoid delays that could hinder the IBC's objectives, while also highlighting the importance of further examination regarding the nature of a dispute. Case-Laws Insolvency and Bankruptcy Wed, 18 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298658