https://www.taxtmi.com/caselaws?id=426234 The Tribunal concluded that the Financial Creditor was authorized to present the Company Petition, rejecting the Corporate Debtor's contentions. The default in redemption of debentures was found not protected by Section 10A of the IBC due to occurring before the relevant pandemic period. A challenge to the maintainability of the Company Petition was dismissed as belated. The Tribunal admitted the Company Petition, initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, appointing an Interim Resolution Professional, and imposing a moratorium on certain actions. en-us Wed, 27 Jul 2022 00:00:00 +0530 Wed, 10 Aug 2022 09:30:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426234 The Tribunal concluded that the Financial Creditor was authorized to present the Company Petition, rejecting the Corporate Debtor's contentions. The default in redemption of debentures was found not protected by Section 10A of the IBC due to occurring before the relevant pandemic period. A challenge to the maintainability of the Company Petition was dismissed as belated. The Tribunal admitted the Company Petition, initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, appointing an Interim Resolution Professional, and imposing a moratorium on certain actions. Case-Laws Insolvency and Bankruptcy Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426234