https://www.taxtmi.com/caselaws?id=416987 The Tribunal admitted the Company Petition filed by the Operational Creditor, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in payment. Despite the lack of appearance and submissions from the Corporate Debtor, the Tribunal found the debt and default adequately demonstrated by the Operational Creditor, leading to the appointment of an Interim Resolution Professional. Various orders were issued, including a moratorium on legal actions, continuation of essential services, and management vesting in the IRP/RP during the CIRP period. en-us Tue, 21 Dec 2021 00:00:00 +0530 Thu, 13 Jan 2022 08:59:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416987 The Tribunal admitted the Company Petition filed by the Operational Creditor, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in payment. Despite the lack of appearance and submissions from the Corporate Debtor, the Tribunal found the debt and default adequately demonstrated by the Operational Creditor, leading to the appointment of an Interim Resolution Professional. Various orders were issued, including a moratorium on legal actions, continuation of essential services, and management vesting in the IRP/RP during the CIRP period. Case-Laws Insolvency and Bankruptcy Tue, 21 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416987