https://www.taxtmi.com/caselaws?id=424542 The National Company Law Tribunal, Chandigarh Bench, admitted the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 for Corporate Insolvency Resolution Process (CIRP) initiation against Beckons Industries Limited. The court found proper service of the demand notice, undisputed operational debt, timely application filing, admission of liability by the Corporate Debtor, and satisfaction of conditions for CIRP initiation. An Interim Resolution Professional was appointed, a moratorium imposed, and directions issued for management during the CIRP process. The Operational Creditor was directed to deposit funds for immediate CIRP expenses. en-us Tue, 28 Jun 2022 00:00:00 +0530 Mon, 04 Jul 2022 09:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424542 The National Company Law Tribunal, Chandigarh Bench, admitted the petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 for Corporate Insolvency Resolution Process (CIRP) initiation against Beckons Industries Limited. The court found proper service of the demand notice, undisputed operational debt, timely application filing, admission of liability by the Corporate Debtor, and satisfaction of conditions for CIRP initiation. An Interim Resolution Professional was appointed, a moratorium imposed, and directions issued for management during the CIRP process. The Operational Creditor was directed to deposit funds for immediate CIRP expenses. Case-Laws Insolvency and Bankruptcy Tue, 28 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424542