https://www.taxtmi.com/caselaws?id=416932 The Tribunal found in favor of the operational creditor, admitting the petition and initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. An Interim Resolution Professional (IRP) was appointed to oversee the process, and a moratorium was declared with specific directions to prevent suits, asset transfers, and ensure essential supplies continue. The moratorium will last until the completion of the CIRP, approval of a resolution plan, or liquidation is ordered. The operational creditor was directed to deposit funds for expenses, and public announcement of the CIRP was required. en-us Tue, 16 Nov 2021 00:00:00 +0530 Wed, 12 Jan 2022 08:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416932 The Tribunal found in favor of the operational creditor, admitting the petition and initiating the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor. An Interim Resolution Professional (IRP) was appointed to oversee the process, and a moratorium was declared with specific directions to prevent suits, asset transfers, and ensure essential supplies continue. The moratorium will last until the completion of the CIRP, approval of a resolution plan, or liquidation is ordered. The operational creditor was directed to deposit funds for expenses, and public announcement of the CIRP was required. Case-Laws Insolvency and Bankruptcy Tue, 16 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416932