https://www.taxtmi.com/caselaws?id=416472 The Tribunal admitted the petition under Section 9(5) of the IBC, 2016, initiating the Corporate Insolvency process against the Corporate Debtor for non-payment of dues. An Interim Resolution Professional was appointed, directing various actions such as suspending the Board of Directors' powers, preparing an asset inventory, and forming a Committee of Creditors. The Operational Creditor was instructed to deposit funds for expenses. A moratorium was declared under Section 14(1) of the IBC, 2016, to protect the Corporate Debtor from certain actions. Compliance and cooperation with the IRP were emphasized throughout the process. en-us Wed, 22 Dec 2021 00:00:00 +0530 Thu, 30 Dec 2021 08:31:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416472 The Tribunal admitted the petition under Section 9(5) of the IBC, 2016, initiating the Corporate Insolvency process against the Corporate Debtor for non-payment of dues. An Interim Resolution Professional was appointed, directing various actions such as suspending the Board of Directors' powers, preparing an asset inventory, and forming a Committee of Creditors. The Operational Creditor was instructed to deposit funds for expenses. A moratorium was declared under Section 14(1) of the IBC, 2016, to protect the Corporate Debtor from certain actions. Compliance and cooperation with the IRP were emphasized throughout the process. Case-Laws Insolvency and Bankruptcy Wed, 22 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416472