https://www.taxtmi.com/caselaws?id=425373 The Tribunal admitted the Company Petition under section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Bank of India against Future Retail Limited for defaulting on repayment, leading to the initiation of the Corporate Insolvency Resolution Process. Despite the Corporate Debtor's contentions regarding pending adjudication before the Supreme Court and alleged impact on its business due to lenders' decisions, the Tribunal emphasized the admission of debt and default, dismissing disputes and intervention petitions, ultimately appointing an Interim Resolution Professional to manage the resolution process. en-us Wed, 20 Jul 2022 00:00:00 +0530 Fri, 22 Jul 2022 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425373 The Tribunal admitted the Company Petition under section 7 of the Insolvency and Bankruptcy Code, 2016, filed by Bank of India against Future Retail Limited for defaulting on repayment, leading to the initiation of the Corporate Insolvency Resolution Process. Despite the Corporate Debtor's contentions regarding pending adjudication before the Supreme Court and alleged impact on its business due to lenders' decisions, the Tribunal emphasized the admission of debt and default, dismissing disputes and intervention petitions, ultimately appointing an Interim Resolution Professional to manage the resolution process. Case-Laws Insolvency and Bankruptcy Wed, 20 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425373