https://www.taxtmi.com/caselaws?id=425323 The Tribunal admitted the Company Petition under section 7 of the Insolvency and Bankruptcy Code, finding jurisdiction to initiate Corporate Insolvency Resolution Process against the Corporate Debtor due to default in loan repayment. Despite partial repayments, the outstanding balance remained unpaid, leading to the appointment of an Interim Resolution Professional and imposition of a moratorium under section 14 of the IBC to safeguard the Corporate Debtor's assets. Orders were issued for managing the CIRP, depositing expenses, notifying relevant parties, and updating records with the Registrar of Companies in Maharashtra. en-us Fri, 15 Jul 2022 00:00:00 +0530 Wed, 20 Jul 2022 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425323 The Tribunal admitted the Company Petition under section 7 of the Insolvency and Bankruptcy Code, finding jurisdiction to initiate Corporate Insolvency Resolution Process against the Corporate Debtor due to default in loan repayment. Despite partial repayments, the outstanding balance remained unpaid, leading to the appointment of an Interim Resolution Professional and imposition of a moratorium under section 14 of the IBC to safeguard the Corporate Debtor's assets. Orders were issued for managing the CIRP, depositing expenses, notifying relevant parties, and updating records with the Registrar of Companies in Maharashtra. Case-Laws Insolvency and Bankruptcy Fri, 15 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425323