https://www.taxtmi.com/caselaws?id=418165 The Tribunal admitted the application under Section 7 of the IBC, finding that the Financial Creditors had proven the default by the Corporate Debtor. A moratorium was imposed, and an Insolvency Resolution Professional (IRP) was appointed to oversee the resolution process. The Tribunal emphasized the importance of establishing a default for admitting such applications and concluded that the evidence presented met the requirements, leading to the initiation of the Corporate Insolvency Resolution Process. en-us Fri, 28 Jan 2022 00:00:00 +0530 Thu, 10 Feb 2022 08:54:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418165 The Tribunal admitted the application under Section 7 of the IBC, finding that the Financial Creditors had proven the default by the Corporate Debtor. A moratorium was imposed, and an Insolvency Resolution Professional (IRP) was appointed to oversee the resolution process. The Tribunal emphasized the importance of establishing a default for admitting such applications and concluded that the evidence presented met the requirements, leading to the initiation of the Corporate Insolvency Resolution Process. Case-Laws Insolvency and Bankruptcy Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418165