https://www.taxtmi.com/caselaws?id=299074 The Tribunal admitted the petition, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in loan repayment. The Tribunal upheld joint and several liability of co-obligors, allowed separate insolvency petitions against each co-obligor, approved the appointment of different Interim Resolution Professionals for co-obligors, considered disbursement to one co-obligor as disbursement to all, and imposed a moratorium under Section 14 of the Insolvency and Bankruptcy Code. Mr. Divyesh Desai was appointed as the Interim Resolution Professional for the Corporate Debtor. en-us Fri, 31 Aug 2018 00:00:00 +0530 Fri, 03 Dec 2021 08:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299074 The Tribunal admitted the petition, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in loan repayment. The Tribunal upheld joint and several liability of co-obligors, allowed separate insolvency petitions against each co-obligor, approved the appointment of different Interim Resolution Professionals for co-obligors, considered disbursement to one co-obligor as disbursement to all, and imposed a moratorium under Section 14 of the Insolvency and Bankruptcy Code. Mr. Divyesh Desai was appointed as the Interim Resolution Professional for the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299074