https://www.taxtmi.com/caselaws?id=416470 The court allowed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor due to default on a term loan. The Financial Creditor's evidence of default was undisputed, leading to the appointment of an Insolvency Professional as an Interim Resolution Professional. The court imposed a Moratorium under Section 14 of the Code, directing the IRP to manage operations, protect assets, and receive fees from the Financial Creditor. The judgment was signed on December 16, 2021, disposing of pending applications and commencing the CIRP. en-us Thu, 16 Dec 2021 00:00:00 +0530 Wed, 29 Dec 2021 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416470 The court allowed the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor due to default on a term loan. The Financial Creditor's evidence of default was undisputed, leading to the appointment of an Insolvency Professional as an Interim Resolution Professional. The court imposed a Moratorium under Section 14 of the Code, directing the IRP to manage operations, protect assets, and receive fees from the Financial Creditor. The judgment was signed on December 16, 2021, disposing of pending applications and commencing the CIRP. Case-Laws Insolvency and Bankruptcy Thu, 16 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416470