https://www.taxtmi.com/caselaws?id=303808 The Reserve Bank of India filed an application under section 227 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Srei Infrastructure Finance Limited (SIFL), a Financial Service Provider (FSP). The application satisfied the legal requirements, proving debt default, leading to the appointment of an Administrator and initiation of CIRP. The Adjudicating Authority ordered a moratorium under section 14 of the Code, outlining specific directives for the Administrator's functions. Compliance measures and future proceedings were also addressed, ensuring progress reporting and Registrar of Companies updates. en-us Fri, 08 Oct 2021 00:00:00 +0530 Wed, 17 Aug 2022 08:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303808 The Reserve Bank of India filed an application under section 227 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Srei Infrastructure Finance Limited (SIFL), a Financial Service Provider (FSP). The application satisfied the legal requirements, proving debt default, leading to the appointment of an Administrator and initiation of CIRP. The Adjudicating Authority ordered a moratorium under section 14 of the Code, outlining specific directives for the Administrator's functions. Compliance measures and future proceedings were also addressed, ensuring progress reporting and Registrar of Companies updates. Case-Laws Insolvency and Bankruptcy Fri, 08 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303808