https://www.taxtmi.com/caselaws?id=416387 The Tribunal allowed the application for Corporate Insolvency Resolution Process under Section 9 of IBC against the Corporate Debtor due to default in payment of operational debt amounting to Rs. 10,54,179. The Corporate Debtor admitted owing Rs. 3,28,800, failed to respond to the demand notice, and did not return the goods in question. Consequently, the Tribunal declared a moratorium under Section 14 of IBC, appointed an Insolvency Resolution Professional, and instructed the Operational Creditor to pay an advance for the resolution process. en-us Tue, 07 Dec 2021 00:00:00 +0530 Tue, 28 Dec 2021 08:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416387 The Tribunal allowed the application for Corporate Insolvency Resolution Process under Section 9 of IBC against the Corporate Debtor due to default in payment of operational debt amounting to Rs. 10,54,179. The Corporate Debtor admitted owing Rs. 3,28,800, failed to respond to the demand notice, and did not return the goods in question. Consequently, the Tribunal declared a moratorium under Section 14 of IBC, appointed an Insolvency Resolution Professional, and instructed the Operational Creditor to pay an advance for the resolution process. Case-Laws Insolvency and Bankruptcy Tue, 07 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416387