https://www.taxtmi.com/caselaws?id=424030 The Tribunal found in favor of the Operational Creditor in the Company Petition seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for default in payment. The Tribunal determined that the Operational Creditor provided sufficient evidence of debt and default, including acknowledgments from the Corporate Debtor. Consequently, the Company Petition was upheld, and CIRP was initiated, appointing an Interim Resolution Professional to oversee the process and imposing necessary restrictions on the Corporate Debtor during the proceedings. en-us Fri, 17 Jun 2022 00:00:00 +0530 Tue, 21 Jun 2022 08:55:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424030 The Tribunal found in favor of the Operational Creditor in the Company Petition seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for default in payment. The Tribunal determined that the Operational Creditor provided sufficient evidence of debt and default, including acknowledgments from the Corporate Debtor. Consequently, the Company Petition was upheld, and CIRP was initiated, appointing an Interim Resolution Professional to oversee the process and imposing necessary restrictions on the Corporate Debtor during the proceedings. Case-Laws Insolvency and Bankruptcy Fri, 17 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424030