https://www.taxtmi.com/caselaws?id=424494 The Tribunal admitted the Operational Creditor's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor. The Tribunal found the debt valid, rejected the assignment of the contract to a third party without consent, confirmed the continued privity of contract between the parties, and determined that the application was within the period of limitation. As the Corporate Debtor did not dispute the debt or raise any pre-existing disputes, the Tribunal declared a default in payment and appointed an Interim Resolution Professional to oversee the CIRP proceedings. en-us Wed, 22 Jun 2022 00:00:00 +0530 Sat, 02 Jul 2022 09:11:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424494 The Tribunal admitted the Operational Creditor's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor. The Tribunal found the debt valid, rejected the assignment of the contract to a third party without consent, confirmed the continued privity of contract between the parties, and determined that the application was within the period of limitation. As the Corporate Debtor did not dispute the debt or raise any pre-existing disputes, the Tribunal declared a default in payment and appointed an Interim Resolution Professional to oversee the CIRP proceedings. Case-Laws Insolvency and Bankruptcy Wed, 22 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424494