https://www.taxtmi.com/caselaws?id=422611 The Tribunal admitted the Operational Creditor's application under Section 9 of the Insolvency and Bankruptcy Code against the Corporate Debtor for default in payment. A moratorium was declared, prohibiting actions against the Corporate Debtor. An Interim Resolution Professional was appointed to manage the affairs of the Corporate Debtor until the completion of the Corporate Insolvency Resolution Process or liquidation. The IRP will oversee the submission of claims, manage operations, and protect the Corporate Debtor's property. The Applicant was directed to deposit funds for expenses, and the order was communicated for compliance, leading to the disposal of the application. en-us Tue, 26 Apr 2022 00:00:00 +0530 Thu, 19 May 2022 08:30:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422611 The Tribunal admitted the Operational Creditor's application under Section 9 of the Insolvency and Bankruptcy Code against the Corporate Debtor for default in payment. A moratorium was declared, prohibiting actions against the Corporate Debtor. An Interim Resolution Professional was appointed to manage the affairs of the Corporate Debtor until the completion of the Corporate Insolvency Resolution Process or liquidation. The IRP will oversee the submission of claims, manage operations, and protect the Corporate Debtor's property. The Applicant was directed to deposit funds for expenses, and the order was communicated for compliance, leading to the disposal of the application. Case-Laws Insolvency and Bankruptcy Tue, 26 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422611