https://www.taxtmi.com/caselaws?id=422613 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declaring a moratorium under Sections 13 and 15 of the Insolvency and Bankruptcy Code. Despite the Corporate Debtor's claims of pre-existing disputes, the Tribunal found them unsubstantiated and admitted the petition. An Interim Resolution Professional was appointed, and the Operational Creditor was directed to deposit funds for expenses. The Tribunal dismissed a related application and set deadlines for further proceedings, emphasizing the lack of credible evidence from the Corporate Debtor. en-us Fri, 06 May 2022 00:00:00 +0530 Thu, 19 May 2022 08:30:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422613 The Tribunal admitted the application for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declaring a moratorium under Sections 13 and 15 of the Insolvency and Bankruptcy Code. Despite the Corporate Debtor's claims of pre-existing disputes, the Tribunal found them unsubstantiated and admitted the petition. An Interim Resolution Professional was appointed, and the Operational Creditor was directed to deposit funds for expenses. The Tribunal dismissed a related application and set deadlines for further proceedings, emphasizing the lack of credible evidence from the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422613