https://www.taxtmi.com/caselaws?id=299145 The tribunal admitted the insolvency petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by the Financial Creditor against the Corporate Debtor. The petition was found complete, establishing the existence of financial debt and default. Counterclaims and fraud allegations by the Corporate Debtor were dismissed as invalid defenses. Serious concerns were raised regarding the conduct of bank authorities in granting loans based on questionable collateral. An Interim Resolution Professional (IRP) was appointed, and a moratorium was declared to initiate the Corporate Insolvency Resolution Process (CIRP). en-us Tue, 12 Mar 2019 00:00:00 +0530 Sun, 05 Dec 2021 14:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299145 The tribunal admitted the insolvency petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by the Financial Creditor against the Corporate Debtor. The petition was found complete, establishing the existence of financial debt and default. Counterclaims and fraud allegations by the Corporate Debtor were dismissed as invalid defenses. Serious concerns were raised regarding the conduct of bank authorities in granting loans based on questionable collateral. An Interim Resolution Professional (IRP) was appointed, and a moratorium was declared to initiate the Corporate Insolvency Resolution Process (CIRP). Case-Laws Insolvency and Bankruptcy Tue, 12 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299145