https://www.taxtmi.com/caselaws?id=426236 The court found proper service of the demand notice, undisputed operational debt, and timely application filing. The judgment admitted the petition for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, appointing an Interim Resolution Professional, suspending Board powers, and imposing a moratorium. The Interim Resolution Professional was tasked with managing affairs, forming a Committee of Creditors, and providing progress reports. The petitioner was directed to deposit funds for immediate CIRP expenses. en-us Fri, 05 Aug 2022 00:00:00 +0530 Wed, 10 Aug 2022 09:30:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426236 The court found proper service of the demand notice, undisputed operational debt, and timely application filing. The judgment admitted the petition for initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, appointing an Interim Resolution Professional, suspending Board powers, and imposing a moratorium. The Interim Resolution Professional was tasked with managing affairs, forming a Committee of Creditors, and providing progress reports. The petitioner was directed to deposit funds for immediate CIRP expenses. Case-Laws Insolvency and Bankruptcy Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426236