https://www.taxtmi.com/caselaws?id=422787 The Tribunal admitted the Company Petition and initiated the Corporate Insolvency Resolution Process against the Corporate Debtor due to default on a payment for the supply of Digital Video Recorder. The Operational Creditor provided evidence of the debt and default, while the Corporate Debtor did not contest the claim. Consequently, an Interim Resolution Professional was appointed, and the CIRP was initiated with imposed restrictions and a moratorium period on legal actions against the Corporate Debtor. The management of the Corporate Debtor during the CIRP was specified, and necessary communications were directed to update records with the Registrar of Companies. en-us Thu, 12 May 2022 00:00:00 +0530 Mon, 23 May 2022 08:14:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422787 The Tribunal admitted the Company Petition and initiated the Corporate Insolvency Resolution Process against the Corporate Debtor due to default on a payment for the supply of Digital Video Recorder. The Operational Creditor provided evidence of the debt and default, while the Corporate Debtor did not contest the claim. Consequently, an Interim Resolution Professional was appointed, and the CIRP was initiated with imposed restrictions and a moratorium period on legal actions against the Corporate Debtor. The management of the Corporate Debtor during the CIRP was specified, and necessary communications were directed to update records with the Registrar of Companies. Case-Laws Insolvency and Bankruptcy Thu, 12 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422787