https://www.taxtmi.com/caselaws?id=423047 The Tribunal admitted the petition for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 9 of the Insolvency & Bankruptcy Code, 2016. The conditions for initiating CIRP were found satisfied based on evidence of default in payment by the Corporate Debtor, as shown by ledger accounts and dishonored cheques. An Insolvency Professional was appointed as the Interim Resolution Professional to manage the Corporate Debtor's affairs. The Tribunal dismissed objections raised by the Corporate Debtor regarding maintainability of the petition and acknowledged the default in payment, leading to the declaration of a moratorium and compliance with various provisions of the Code. en-us Tue, 17 May 2022 00:00:00 +0530 Sat, 28 May 2022 09:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423047 The Tribunal admitted the petition for initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor under Section 9 of the Insolvency & Bankruptcy Code, 2016. The conditions for initiating CIRP were found satisfied based on evidence of default in payment by the Corporate Debtor, as shown by ledger accounts and dishonored cheques. An Insolvency Professional was appointed as the Interim Resolution Professional to manage the Corporate Debtor's affairs. The Tribunal dismissed objections raised by the Corporate Debtor regarding maintainability of the petition and acknowledged the default in payment, leading to the declaration of a moratorium and compliance with various provisions of the Code. Case-Laws Insolvency and Bankruptcy Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423047