https://www.taxtmi.com/caselaws?id=424459 The Tribunal granted the petition filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor. The Tribunal allowed the change of the proposed Interim Resolution Professional and appointed a new one. The default in payment was verified, the petition was admitted, and a moratorium was declared. Directions were given regarding the Committee of Creditors, progress reports, and financial deposits by the Financial Creditor. The judgment emphasized compliance with the Code's provisions and due process. en-us Tue, 28 Jun 2022 00:00:00 +0530 Fri, 01 Jul 2022 09:33:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424459 The Tribunal granted the petition filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor. The Tribunal allowed the change of the proposed Interim Resolution Professional and appointed a new one. The default in payment was verified, the petition was admitted, and a moratorium was declared. Directions were given regarding the Committee of Creditors, progress reports, and financial deposits by the Financial Creditor. The judgment emphasized compliance with the Code's provisions and due process. Case-Laws Insolvency and Bankruptcy Tue, 28 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424459