https://www.taxtmi.com/caselaws?id=416988 The Tribunal admitted the application for initiation of Corporate Insolvency Resolution Process (CIRP) against a Private Limited Company due to undisputed unpaid operational debt of Rs. 82,27,392. An Interim Resolution Professional (IRP) was appointed to manage the CIRP, invoking a moratorium on the Corporate Debtor's affairs. The Operational Creditor was directed to deposit funds for the IRP's expenses, and cooperation from all personnel of the Corporate Debtor was mandated. Communication of the order to relevant parties and compliance with the Insolvency and Bankruptcy Code, 2016 provisions were required within a week. en-us Tue, 21 Dec 2021 00:00:00 +0530 Thu, 13 Jan 2022 08:59:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416988 The Tribunal admitted the application for initiation of Corporate Insolvency Resolution Process (CIRP) against a Private Limited Company due to undisputed unpaid operational debt of Rs. 82,27,392. An Interim Resolution Professional (IRP) was appointed to manage the CIRP, invoking a moratorium on the Corporate Debtor's affairs. The Operational Creditor was directed to deposit funds for the IRP's expenses, and cooperation from all personnel of the Corporate Debtor was mandated. Communication of the order to relevant parties and compliance with the Insolvency and Bankruptcy Code, 2016 provisions were required within a week. Case-Laws Insolvency and Bankruptcy Tue, 21 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416988