https://www.taxtmi.com/caselaws?id=425632 The Tribunal admitted the petition filed by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor due to default on a loan amount. Despite the Respondent's contentions of repayment arrangements, economic challenges, and willingness to pay, the Tribunal found substantial evidence of default, leading to the initiation of Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional was appointed, and a moratorium was declared to facilitate the resolution process, with specific functions outlined for adherence to the Code's regulations. en-us Mon, 04 Jul 2022 00:00:00 +0530 Thu, 28 Jul 2022 09:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425632 The Tribunal admitted the petition filed by a Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor due to default on a loan amount. Despite the Respondent's contentions of repayment arrangements, economic challenges, and willingness to pay, the Tribunal found substantial evidence of default, leading to the initiation of Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional was appointed, and a moratorium was declared to facilitate the resolution process, with specific functions outlined for adherence to the Code's regulations. Case-Laws Insolvency and Bankruptcy Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425632