https://www.taxtmi.com/caselaws?id=302703 The tribunal admitted the Company petition under Section 7 of the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for defaulting on a payment of Rs. 185,35,24,319. An Interim Resolution Professional was appointed, and a moratorium was imposed to prevent legal actions against the Debtor. The moratorium would last until the completion of the CIRP process, approval of a resolution plan, or liquidation order. Management during CIRP was vested in the IRP/RP, and the Registrar of Companies was directed to update the Debtor's Master Data. en-us Fri, 16 Jul 2021 00:00:00 +0530 Mon, 13 Jun 2022 14:09:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302703 The tribunal admitted the Company petition under Section 7 of the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for defaulting on a payment of Rs. 185,35,24,319. An Interim Resolution Professional was appointed, and a moratorium was imposed to prevent legal actions against the Debtor. The moratorium would last until the completion of the CIRP process, approval of a resolution plan, or liquidation order. Management during CIRP was vested in the IRP/RP, and the Registrar of Companies was directed to update the Debtor's Master Data. Case-Laws Insolvency and Bankruptcy Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302703