https://www.taxtmi.com/caselaws?id=415574 The Tribunal admitted the Petition filed by the Operational Creditor seeking initiation of Corporate Insolvency Resolution Process against the Corporate Debtor for default in payment. The Corporate Debtor did not dispute the debt, expressed inability to pay, and agreed to the process. The Tribunal appointed an Insolvency Resolution Professional and declared a moratorium under the Insolvency and Bankruptcy Code. The appointed professional was tasked with managing the Corporate Debtor's affairs, and directors and promoters were required to cooperate. The order was communicated to the parties involved for compliance. en-us Fri, 26 Nov 2021 00:00:00 +0530 Thu, 09 Dec 2021 08:35:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415574 The Tribunal admitted the Petition filed by the Operational Creditor seeking initiation of Corporate Insolvency Resolution Process against the Corporate Debtor for default in payment. The Corporate Debtor did not dispute the debt, expressed inability to pay, and agreed to the process. The Tribunal appointed an Insolvency Resolution Professional and declared a moratorium under the Insolvency and Bankruptcy Code. The appointed professional was tasked with managing the Corporate Debtor's affairs, and directors and promoters were required to cooperate. The order was communicated to the parties involved for compliance. Case-Laws Insolvency and Bankruptcy Fri, 26 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415574