https://www.taxtmi.com/caselaws?id=422992 The Tribunal admitted the petition for the initiation of the Corporate Insolvency Resolution Process against the Corporate Debtor, PNC Enterprises Private Limited. A moratorium was declared, and an Interim Resolution Professional was appointed. The petitioning Operational Creditor's claim of unpaid operational debt, supported by evidence, was found substantiated. Directions were given for the management of the Corporate Debtor's affairs, including the formation of a Committee of Creditors. The petitioner was instructed to deposit a specified amount for immediate expenses, to be later reimbursed by the Committee of Creditors. en-us Tue, 17 May 2022 00:00:00 +0530 Fri, 27 May 2022 08:36:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422992 The Tribunal admitted the petition for the initiation of the Corporate Insolvency Resolution Process against the Corporate Debtor, PNC Enterprises Private Limited. A moratorium was declared, and an Interim Resolution Professional was appointed. The petitioning Operational Creditor's claim of unpaid operational debt, supported by evidence, was found substantiated. Directions were given for the management of the Corporate Debtor's affairs, including the formation of a Committee of Creditors. The petitioner was instructed to deposit a specified amount for immediate expenses, to be later reimbursed by the Committee of Creditors. Case-Laws Insolvency and Bankruptcy Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422992