https://www.taxtmi.com/caselaws?id=424245 The Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Shri Vishnu Eatables (India) Ltd. for Corporate Insolvency Resolution Process due to default on repayment obligations. The Tribunal found in favor of the financial creditor, establishing default by the corporate debtor and addressing the issue of limitation. An Interim Resolution Professional was appointed, procedural requirements were met, and a moratorium was imposed under Section 14, empowering the Interim Resolution Professional to manage the debtor's affairs while directing the financial creditor to deposit funds for expenses. en-us Fri, 10 Jun 2022 00:00:00 +0530 Sat, 25 Jun 2022 09:19:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424245 The Punjab National Bank filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Shri Vishnu Eatables (India) Ltd. for Corporate Insolvency Resolution Process due to default on repayment obligations. The Tribunal found in favor of the financial creditor, establishing default by the corporate debtor and addressing the issue of limitation. An Interim Resolution Professional was appointed, procedural requirements were met, and a moratorium was imposed under Section 14, empowering the Interim Resolution Professional to manage the debtor's affairs while directing the financial creditor to deposit funds for expenses. Case-Laws Insolvency and Bankruptcy Fri, 10 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424245