https://www.taxtmi.com/caselaws?id=424378 The National Company Law Tribunal (NCLT), Mumbai Bench, had jurisdiction to adjudicate a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by a Financial Creditor against a Corporate Debtor. The Financial Creditor proved the existence of financial debt and default, supported by the acknowledgment of debt in the Corporate Debtor's balance sheet. The Tribunal admitted the petition, initiated the Corporate Insolvency Resolution Process (CIRP), and appointed an Interim Resolution Professional (IRP) to manage the Corporate Debtor. A moratorium was declared, and essential services were to continue during the process. en-us Mon, 27 Jun 2022 00:00:00 +0530 Wed, 29 Jun 2022 09:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424378 The National Company Law Tribunal (NCLT), Mumbai Bench, had jurisdiction to adjudicate a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by a Financial Creditor against a Corporate Debtor. The Financial Creditor proved the existence of financial debt and default, supported by the acknowledgment of debt in the Corporate Debtor's balance sheet. The Tribunal admitted the petition, initiated the Corporate Insolvency Resolution Process (CIRP), and appointed an Interim Resolution Professional (IRP) to manage the Corporate Debtor. A moratorium was declared, and essential services were to continue during the process. Case-Laws Insolvency and Bankruptcy Mon, 27 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424378