https://www.taxtmi.com/caselaws?id=424246 The tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in loan repayment. The tribunal appointed an Interim Resolution Professional (IRP), declared a moratorium, and directed the Financial Creditor to deposit funds for preliminary expenses. The tribunal found the Corporate Debtor's challenges to the legality of notices and the impact of the Financial Creditor's own resolution process as unsubstantiated, leading to the admission of the CIRP petition. en-us Mon, 13 Jun 2022 00:00:00 +0530 Sat, 25 Jun 2022 09:19:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424246 The tribunal admitted the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to default in loan repayment. The tribunal appointed an Interim Resolution Professional (IRP), declared a moratorium, and directed the Financial Creditor to deposit funds for preliminary expenses. The tribunal found the Corporate Debtor's challenges to the legality of notices and the impact of the Financial Creditor's own resolution process as unsubstantiated, leading to the admission of the CIRP petition. Case-Laws Insolvency and Bankruptcy Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424246