https://www.taxtmi.com/caselaws?id=425019 The Mumbai Bench of the National Company Law Tribunal (NCLT) had jurisdiction over a case involving a Private Limited Company that defaulted on credit facilities totaling Rs. 2416.78 Lakhs. Despite attempts at restructuring and acknowledgments of debt, the Financial Creditor's petition under Section 7 of the IBC was admitted. An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was declared, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. en-us Fri, 01 Jul 2022 00:00:00 +0530 Wed, 13 Jul 2022 09:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425019 The Mumbai Bench of the National Company Law Tribunal (NCLT) had jurisdiction over a case involving a Private Limited Company that defaulted on credit facilities totaling Rs. 2416.78 Lakhs. Despite attempts at restructuring and acknowledgments of debt, the Financial Creditor's petition under Section 7 of the IBC was admitted. An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was declared, initiating the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Fri, 01 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425019