https://www.taxtmi.com/caselaws?id=419826 The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process under Section 7 of the Insolvency and Bankruptcy Code after failing to repay the outstanding amount of Rs. 89,75,40,237.91, along with interest. The Adjudicating Authority found the application complete and defect-free, leading to an ex-parte order against the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, a moratorium was imposed under Section 14 of the Code, and the Financial Creditor was directed to pay the IRP fees. Cooperation with the IRP and compliance with legal obligations were emphasized to ensure a smooth resolution process. en-us Fri, 04 Mar 2022 00:00:00 +0530 Tue, 22 Mar 2022 08:58:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419826 The Corporate Debtor was admitted into the Corporate Insolvency Resolution Process under Section 7 of the Insolvency and Bankruptcy Code after failing to repay the outstanding amount of Rs. 89,75,40,237.91, along with interest. The Adjudicating Authority found the application complete and defect-free, leading to an ex-parte order against the Corporate Debtor. An Interim Resolution Professional (IRP) was appointed, a moratorium was imposed under Section 14 of the Code, and the Financial Creditor was directed to pay the IRP fees. Cooperation with the IRP and compliance with legal obligations were emphasized to ensure a smooth resolution process. Case-Laws Insolvency and Bankruptcy Fri, 04 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419826