https://www.taxtmi.com/caselaws?id=415242 The Financial Creditor filed an application under section 7 of the IBC, 2016 against the Corporate Debtor for non-repayment of a loan. Despite the Corporate Debtor's non-appearance leading to ex-parte proceedings, the adjudicating authority ensured due process. The Financial Creditor provided evidence of default, leading to the initiation of CIRP. The application was admitted, an Interim Resolution Professional appointed, and a moratorium declared. Compliance requirements for the IRP and cooperation from the Corporate Debtor were mandated. Communication directives were issued, and the Registry was directed to update the Corporate Debtor's status. en-us Tue, 23 Nov 2021 00:00:00 +0530 Wed, 01 Dec 2021 08:49:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415242 The Financial Creditor filed an application under section 7 of the IBC, 2016 against the Corporate Debtor for non-repayment of a loan. Despite the Corporate Debtor's non-appearance leading to ex-parte proceedings, the adjudicating authority ensured due process. The Financial Creditor provided evidence of default, leading to the initiation of CIRP. The application was admitted, an Interim Resolution Professional appointed, and a moratorium declared. Compliance requirements for the IRP and cooperation from the Corporate Debtor were mandated. Communication directives were issued, and the Registry was directed to update the Corporate Debtor's status. Case-Laws Insolvency and Bankruptcy Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415242