https://www.taxtmi.com/caselaws?id=423779 The tribunal found that the petition under Section 7 of the Insolvency and Bankruptcy Code was not barred by limitation as the Corporate Debtor had acknowledged the debt within the limitation period. It was established that there was a debt due and payable by the Corporate Debtor to the Financial Creditor, leading to the admission of the application under Section 7. A moratorium was declared, an Interim Resolution Professional appointed, and specific instructions were given regarding the deposit of funds and communication of the order to relevant parties. The case was scheduled for a periodical report filing on 29 July 2022, with the order pronounced on 10th June 2022. en-us Fri, 10 Jun 2022 00:00:00 +0530 Thu, 16 Jun 2022 16:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423779 The tribunal found that the petition under Section 7 of the Insolvency and Bankruptcy Code was not barred by limitation as the Corporate Debtor had acknowledged the debt within the limitation period. It was established that there was a debt due and payable by the Corporate Debtor to the Financial Creditor, leading to the admission of the application under Section 7. A moratorium was declared, an Interim Resolution Professional appointed, and specific instructions were given regarding the deposit of funds and communication of the order to relevant parties. The case was scheduled for a periodical report filing on 29 July 2022, with the order pronounced on 10th June 2022. Case-Laws Insolvency and Bankruptcy Fri, 10 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423779