https://www.taxtmi.com/caselaws?id=423209 The Tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process against the Corporate Debtor due to default in loan repayment amounting to Rs. 1,47,44,73,067.90. The limitation period was extended as per a Supreme Court order, allowing the application to proceed. An Interim Resolution Professional was appointed, and directions were given for public announcement, initiation of the moratorium period, and deposit of funds by the Financial Creditor to cover insolvency resolution expenses. en-us Fri, 13 May 2022 00:00:00 +0530 Thu, 02 Jun 2022 08:41:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423209 The Tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process against the Corporate Debtor due to default in loan repayment amounting to Rs. 1,47,44,73,067.90. The limitation period was extended as per a Supreme Court order, allowing the application to proceed. An Interim Resolution Professional was appointed, and directions were given for public announcement, initiation of the moratorium period, and deposit of funds by the Financial Creditor to cover insolvency resolution expenses. Case-Laws Insolvency and Bankruptcy Fri, 13 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423209