https://www.taxtmi.com/caselaws?id=416505 The Tribunal admitted the petition filed by the Financial Creditor against the Corporate Debtor, initiating the Corporate Insolvency Resolution Process (CIRP). The Tribunal found that the debt and default were established, not barred by limitation. The Financial Creditor's arguments regarding financial debt and the minimum threshold for allottees were dismissed, supporting the Financial Creditor's position. The Tribunal imposed a moratorium, appointed an Interim Resolution Professional (IRP), and directed the Financial Creditor to deposit funds for expenses, signaling the commencement of insolvency proceedings. en-us Thu, 02 Dec 2021 00:00:00 +0530 Fri, 31 Dec 2021 08:52:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416505 The Tribunal admitted the petition filed by the Financial Creditor against the Corporate Debtor, initiating the Corporate Insolvency Resolution Process (CIRP). The Tribunal found that the debt and default were established, not barred by limitation. The Financial Creditor's arguments regarding financial debt and the minimum threshold for allottees were dismissed, supporting the Financial Creditor's position. The Tribunal imposed a moratorium, appointed an Interim Resolution Professional (IRP), and directed the Financial Creditor to deposit funds for expenses, signaling the commencement of insolvency proceedings. Case-Laws Insolvency and Bankruptcy Thu, 02 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416505