https://www.taxtmi.com/caselaws?id=424872 The Adjudicating Authority directed the Interim Resolution Professional to constitute the Committee of Creditors (CoC) immediately for the Corporate Debtor in the Corporate Insolvency Resolution Process (CIRP), rejecting the application by the Suspended Management. The decision emphasized adherence to the Insolvency and Bankruptcy Code, 2016, and the directives of the Hon'ble NCLAT, ensuring prompt resolution proceedings and compliance with legal provisions. The judgment aimed to balance the interests of Financial Creditors and management while upholding statutory requirements and facilitating an effective resolution process. en-us Wed, 29 Jun 2022 00:00:00 +0530 Mon, 11 Jul 2022 09:04:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424872 The Adjudicating Authority directed the Interim Resolution Professional to constitute the Committee of Creditors (CoC) immediately for the Corporate Debtor in the Corporate Insolvency Resolution Process (CIRP), rejecting the application by the Suspended Management. The decision emphasized adherence to the Insolvency and Bankruptcy Code, 2016, and the directives of the Hon'ble NCLAT, ensuring prompt resolution proceedings and compliance with legal provisions. The judgment aimed to balance the interests of Financial Creditors and management while upholding statutory requirements and facilitating an effective resolution process. Case-Laws Insolvency and Bankruptcy Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424872