https://www.taxtmi.com/caselaws?id=424643 The Corporate Applicant's application under Section 10 of the IBC, 2016, citing a default of Rs. 271,62,98,645/-, was approved, leading to the initiation of the Corporate Insolvency Resolution Process. The Adjudicating Authority confirmed jurisdiction, and an Interim Resolution Professional was appointed to manage the process. The application was admitted, a moratorium declared, and the Interim Resolution Professional tasked with conducting the CIRP. Instructions were given for claims submission, property protection, and advance payment to the Interim Resolution Professional, ensuring a smooth process. The judgment was approved and implemented, with relevant parties notified accordingly. en-us Mon, 20 Jun 2022 00:00:00 +0530 Wed, 06 Jul 2022 08:12:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424643 The Corporate Applicant's application under Section 10 of the IBC, 2016, citing a default of Rs. 271,62,98,645/-, was approved, leading to the initiation of the Corporate Insolvency Resolution Process. The Adjudicating Authority confirmed jurisdiction, and an Interim Resolution Professional was appointed to manage the process. The application was admitted, a moratorium declared, and the Interim Resolution Professional tasked with conducting the CIRP. Instructions were given for claims submission, property protection, and advance payment to the Interim Resolution Professional, ensuring a smooth process. The judgment was approved and implemented, with relevant parties notified accordingly. Case-Laws Insolvency and Bankruptcy Mon, 20 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424643