https://www.taxtmi.com/caselaws?id=415127 The Tribunal admitted the Company Petition for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to the admitted default in payment. An Interim Resolution Professional was appointed, and the Operational Creditor was directed to deposit an initial amount for CIRP costs. The Tribunal imposed a moratorium on legal actions, ensured the continuation of essential services, and mandated management transfer during the CIRP period. Public announcement of the insolvency resolution process was required, along with notifications to regulatory authorities to facilitate the resolution process effectively. en-us Tue, 23 Nov 2021 00:00:00 +0530 Sat, 27 Nov 2021 08:46:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415127 The Tribunal admitted the Company Petition for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to the admitted default in payment. An Interim Resolution Professional was appointed, and the Operational Creditor was directed to deposit an initial amount for CIRP costs. The Tribunal imposed a moratorium on legal actions, ensured the continuation of essential services, and mandated management transfer during the CIRP period. Public announcement of the insolvency resolution process was required, along with notifications to regulatory authorities to facilitate the resolution process effectively. Case-Laws Insolvency and Bankruptcy Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415127