https://www.taxtmi.com/caselaws?id=424342 The National Company Law Tribunal, Kolkata Bench admitted the Corporate Applicant's petition for initiating Corporate Insolvency Resolution Process (CIRP) against itself under section 10 of the Insolvency and Bankruptcy Code, 2016. The Tribunal imposed a moratorium, appointed an Interim Resolution Professional (IRP), transferred management to the IRP, and required the Corporate Applicant to pay initial costs. The judgment emphasized compliance with regulations, timely reporting, and set specific terms and conditions for the CIRP process. The case was scheduled for a follow-up hearing to file the first periodical report, with provisions for issuing a certified copy of the order upon completion of formalities. en-us Thu, 09 Jun 2022 00:00:00 +0530 Tue, 28 Jun 2022 07:43:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424342 The National Company Law Tribunal, Kolkata Bench admitted the Corporate Applicant's petition for initiating Corporate Insolvency Resolution Process (CIRP) against itself under section 10 of the Insolvency and Bankruptcy Code, 2016. The Tribunal imposed a moratorium, appointed an Interim Resolution Professional (IRP), transferred management to the IRP, and required the Corporate Applicant to pay initial costs. The judgment emphasized compliance with regulations, timely reporting, and set specific terms and conditions for the CIRP process. The case was scheduled for a follow-up hearing to file the first periodical report, with provisions for issuing a certified copy of the order upon completion of formalities. Case-Laws Insolvency and Bankruptcy Thu, 09 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424342