https://www.taxtmi.com/caselaws?id=420901 The Tribunal admitted the Corporate Debtor to the Corporate Insolvency Resolution Process after finding the application defect-free. Despite the Corporate Debtor's defenses, including a pre-existing dispute, the Tribunal emphasized the obligation to pay outstanding debts. Orders included declaring a moratorium, appointing an Insolvency Resolution Professional, and directing the IRP to manage operations. The Operational Creditor was instructed to pay an advance, and the Tribunal stressed the importance of progress reports for effective resolution. The detailed order outlined compliance with the Insolvency and Bankruptcy Code, 2016. en-us Tue, 29 Mar 2022 00:00:00 +0530 Wed, 13 Apr 2022 08:38:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420901 The Tribunal admitted the Corporate Debtor to the Corporate Insolvency Resolution Process after finding the application defect-free. Despite the Corporate Debtor's defenses, including a pre-existing dispute, the Tribunal emphasized the obligation to pay outstanding debts. Orders included declaring a moratorium, appointing an Insolvency Resolution Professional, and directing the IRP to manage operations. The Operational Creditor was instructed to pay an advance, and the Tribunal stressed the importance of progress reports for effective resolution. The detailed order outlined compliance with the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420901