https://www.taxtmi.com/caselaws?id=423545 The Tribunal admitted the application under Section 7 of the Insolvency & Bankruptcy Code, 2016, filed by ICICI Bank Limited against Rasiklal Sankalchand Private Limited for a total default amount of Rs. 40,74,40,000. Despite the Corporate Debtor's denial and pandemic-related excuses, the Tribunal established the debt and default, appointing an Interim Resolution Professional and declaring a moratorium. The Financial Creditor was directed to deposit funds, and essential supplies to the Corporate Debtor were to continue uninterrupted. The CIRP was initiated, with the moratorium remaining in effect until resolution or liquidation. en-us Tue, 07 Jun 2022 00:00:00 +0530 Thu, 09 Jun 2022 08:16:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423545 The Tribunal admitted the application under Section 7 of the Insolvency & Bankruptcy Code, 2016, filed by ICICI Bank Limited against Rasiklal Sankalchand Private Limited for a total default amount of Rs. 40,74,40,000. Despite the Corporate Debtor's denial and pandemic-related excuses, the Tribunal established the debt and default, appointing an Interim Resolution Professional and declaring a moratorium. The Financial Creditor was directed to deposit funds, and essential supplies to the Corporate Debtor were to continue uninterrupted. The CIRP was initiated, with the moratorium remaining in effect until resolution or liquidation. Case-Laws Insolvency and Bankruptcy Tue, 07 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423545