https://www.taxtmi.com/caselaws?id=422946 The court issued an ex-parte order in favor of the Financial Creditor, admitting the application under section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor due to default on a corporate loan. An Insolvency Resolution Professional (IRP) was appointed, and a moratorium was imposed to manage the Corporate Debtor's affairs, prohibiting legal actions, asset transfers, and termination of services. The Financial Creditor was directed to comply with the order, communicate with the IRP and Corporate Debtor promptly, and update the Corporate Debtor's status with the Registrar of Companies. en-us Fri, 13 May 2022 00:00:00 +0530 Thu, 26 May 2022 08:42:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422946 The court issued an ex-parte order in favor of the Financial Creditor, admitting the application under section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor due to default on a corporate loan. An Insolvency Resolution Professional (IRP) was appointed, and a moratorium was imposed to manage the Corporate Debtor's affairs, prohibiting legal actions, asset transfers, and termination of services. The Financial Creditor was directed to comply with the order, communicate with the IRP and Corporate Debtor promptly, and update the Corporate Debtor's status with the Registrar of Companies. Case-Laws Insolvency and Bankruptcy Fri, 13 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422946