https://www.taxtmi.com/caselaws?id=426414 The Tribunal admitted the petition for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declaring a moratorium and appointing an Interim Resolution Professional. The Corporate Debtor acknowledged the debt, leading to the Tribunal's decision to proceed with the resolution process. The petition was found to be within the limitation period, ensuring compliance. The Tribunal emphasized cooperation among parties and outlined guidelines for the Interim Resolution Professional, with the petitioner directed to deposit funds for immediate CIRP expenses, to be reimbursed by the Committee of Creditors. en-us Thu, 11 Aug 2022 00:00:00 +0530 Wed, 17 Aug 2022 08:08:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426414 The Tribunal admitted the petition for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declaring a moratorium and appointing an Interim Resolution Professional. The Corporate Debtor acknowledged the debt, leading to the Tribunal's decision to proceed with the resolution process. The petition was found to be within the limitation period, ensuring compliance. The Tribunal emphasized cooperation among parties and outlined guidelines for the Interim Resolution Professional, with the petitioner directed to deposit funds for immediate CIRP expenses, to be reimbursed by the Committee of Creditors. Case-Laws Insolvency and Bankruptcy Thu, 11 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426414