https://www.taxtmi.com/caselaws?id=419829 The Tribunal found that the Corporate Debtor failed to discharge a debt of Rs. 3,60,11,075 owed to the Operational Creditor despite a demand notice, leading to the admission of the petition and initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal appointed an Interim Resolution Professional (IRP) to manage the Corporate Debtor and oversee the CIRP, with a moratorium declared under Section 14 of the Insolvency and Bankruptcy Code. The Directors and other relevant parties were instructed to cooperate with the IRP for the successful resolution of the insolvency proceedings. en-us Mon, 07 Mar 2022 00:00:00 +0530 Tue, 22 Mar 2022 08:58:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419829 The Tribunal found that the Corporate Debtor failed to discharge a debt of Rs. 3,60,11,075 owed to the Operational Creditor despite a demand notice, leading to the admission of the petition and initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal appointed an Interim Resolution Professional (IRP) to manage the Corporate Debtor and oversee the CIRP, with a moratorium declared under Section 14 of the Insolvency and Bankruptcy Code. The Directors and other relevant parties were instructed to cooperate with the IRP for the successful resolution of the insolvency proceedings. Case-Laws Insolvency and Bankruptcy Mon, 07 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419829