https://www.taxtmi.com/caselaws?id=424379 The Financial Creditor filed a Company Petition under section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor for defaulting on a Rupee Term Loan facility. The Adjudicating Authority admitted the Petition, finding the amount disbursed to the Corporate Debtor as legally due. Detailed submissions proved the default in repayment, leading to an ex-parte order due to the Corporate Debtor's non-appearance. The Authority had jurisdiction over the public company, and the completeness of the application led to the appointment of an Interim Resolution Professional. A moratorium under section 14 of the IBC was ordered until the completion of the Corporate Insolvency Resolution Process. en-us Mon, 27 Jun 2022 00:00:00 +0530 Wed, 29 Jun 2022 09:34:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424379 The Financial Creditor filed a Company Petition under section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor for defaulting on a Rupee Term Loan facility. The Adjudicating Authority admitted the Petition, finding the amount disbursed to the Corporate Debtor as legally due. Detailed submissions proved the default in repayment, leading to an ex-parte order due to the Corporate Debtor's non-appearance. The Authority had jurisdiction over the public company, and the completeness of the application led to the appointment of an Interim Resolution Professional. A moratorium under section 14 of the IBC was ordered until the completion of the Corporate Insolvency Resolution Process. Case-Laws Insolvency and Bankruptcy Mon, 27 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424379