https://www.taxtmi.com/caselaws?id=299147 The Tribunal admitted the Corporate Debtor in Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, despite the defense raised regarding the validity of the deed of assignment. The Tribunal emphasized that the key consideration is the due and payable nature of the debt, citing legal precedents. It appointed an Interim Resolution Professional (IRP), declared a moratorium, and initiated the resolution process, following the provisions of the Code. The Financial Creditor was directed to pay the IRP an advance fee, and the matter was listed for a progress report to ensure timely resolution. en-us Wed, 26 Feb 2020 00:00:00 +0530 Sun, 05 Dec 2021 14:39:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299147 The Tribunal admitted the Corporate Debtor in Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, despite the defense raised regarding the validity of the deed of assignment. The Tribunal emphasized that the key consideration is the due and payable nature of the debt, citing legal precedents. It appointed an Interim Resolution Professional (IRP), declared a moratorium, and initiated the resolution process, following the provisions of the Code. The Financial Creditor was directed to pay the IRP an advance fee, and the matter was listed for a progress report to ensure timely resolution. Case-Laws Insolvency and Bankruptcy Wed, 26 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299147