https://www.taxtmi.com/caselaws?id=418166 The Tribunal found in favor of the applicant in a case involving a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, for non-payment of salary and employment dues by the Corporate Debtor. Despite objections raised by the Corporate Debtor regarding alleged deficiencies, the Tribunal determined that the default in payment of operational debt was established. Following the precedent set in "Mobilox Innovative Private Limited vs. Kirusa Software Private Limited," the Tribunal admitted the application, appointed an Insolvency Resolution Professional, and imposed a moratorium in accordance with the Code's provisions. Compliance with regulatory authorities was also mandated. en-us Fri, 28 Jan 2022 00:00:00 +0530 Thu, 10 Feb 2022 08:54:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418166 The Tribunal found in favor of the applicant in a case involving a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, for non-payment of salary and employment dues by the Corporate Debtor. Despite objections raised by the Corporate Debtor regarding alleged deficiencies, the Tribunal determined that the default in payment of operational debt was established. Following the precedent set in "Mobilox Innovative Private Limited vs. Kirusa Software Private Limited," the Tribunal admitted the application, appointed an Insolvency Resolution Professional, and imposed a moratorium in accordance with the Code's provisions. Compliance with regulatory authorities was also mandated. Case-Laws Insolvency and Bankruptcy Fri, 28 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418166