https://www.taxtmi.com/caselaws?id=425479 The Tribunal admitted the application under Section 10 of the Insolvency and Bankruptcy Code, 2016, and ordered the initiation of Corporate Insolvency Resolution Process (CIRP) for the Corporate Applicant. A moratorium was declared, prohibiting suits, asset transfers, and recovery actions against the Applicant. Essential goods or services supply was to continue uninterrupted. Mr. Pavan Kankani was appointed as the Interim Resolution Professional, and the Registrar of Companies was informed for updating the Applicant's status. The Tribunal found the Applicant unable to meet financial obligations, justifying the CIRP initiation. en-us Fri, 01 Jul 2022 00:00:00 +0530 Mon, 25 Jul 2022 09:18:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425479 The Tribunal admitted the application under Section 10 of the Insolvency and Bankruptcy Code, 2016, and ordered the initiation of Corporate Insolvency Resolution Process (CIRP) for the Corporate Applicant. A moratorium was declared, prohibiting suits, asset transfers, and recovery actions against the Applicant. Essential goods or services supply was to continue uninterrupted. Mr. Pavan Kankani was appointed as the Interim Resolution Professional, and the Registrar of Companies was informed for updating the Applicant's status. The Tribunal found the Applicant unable to meet financial obligations, justifying the CIRP initiation. Case-Laws Insolvency and Bankruptcy Fri, 01 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425479