https://www.taxtmi.com/caselaws?id=425020 The Tribunal found the Corporate Debtor to be in default of a debt due and payable, exceeding the stipulated threshold under the Insolvency and Bankruptcy Code. The petition to initiate Corporate Insolvency Resolution Process (CIRP) was admitted, and a moratorium was declared. An Interim Resolution Professional was appointed, and the Operational Creditor was directed to deposit funds for expenses. The Tribunal determined that the Corporate Debtor's claims were unsubstantiated, upheld the validity of the demand notice, and asserted jurisdiction based on the threshold at the time of filing. en-us Wed, 06 Jul 2022 00:00:00 +0530 Thu, 14 Jul 2022 08:52:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425020 The Tribunal found the Corporate Debtor to be in default of a debt due and payable, exceeding the stipulated threshold under the Insolvency and Bankruptcy Code. The petition to initiate Corporate Insolvency Resolution Process (CIRP) was admitted, and a moratorium was declared. An Interim Resolution Professional was appointed, and the Operational Creditor was directed to deposit funds for expenses. The Tribunal determined that the Corporate Debtor's claims were unsubstantiated, upheld the validity of the demand notice, and asserted jurisdiction based on the threshold at the time of filing. Case-Laws Insolvency and Bankruptcy Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425020