https://www.taxtmi.com/caselaws?id=423639 The petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 was filed to initiate Corporate Insolvency Resolution Process against the Corporate Debtor. The Tribunal established jurisdiction based on the debtor's registered address. The debtor defaulted on a loan, leading to the appointment of an Interim Resolution Professional. The completeness of the application and absence of disciplinary proceedings against the proposed Resolution Professional were confirmed. The petition was admitted within the limitation period, verifying the default in payment. The Tribunal declared a moratorium, imposed prohibitions, directed the constitution of a Committee of Creditors, and ordered the Financial Creditor to deposit a specific sum for expenses. en-us Tue, 31 May 2022 00:00:00 +0530 Fri, 10 Jun 2022 10:19:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423639 The petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 was filed to initiate Corporate Insolvency Resolution Process against the Corporate Debtor. The Tribunal established jurisdiction based on the debtor's registered address. The debtor defaulted on a loan, leading to the appointment of an Interim Resolution Professional. The completeness of the application and absence of disciplinary proceedings against the proposed Resolution Professional were confirmed. The petition was admitted within the limitation period, verifying the default in payment. The Tribunal declared a moratorium, imposed prohibitions, directed the constitution of a Committee of Creditors, and ordered the Financial Creditor to deposit a specific sum for expenses. Case-Laws Insolvency and Bankruptcy Tue, 31 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423639