https://www.taxtmi.com/caselaws?id=426416 The Tribunal admitted the petition and ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal found that the Financial Creditor's application was complete, and the Corporate Debtor was in default of a debt due and payable. An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was imposed. The Financial Creditor was directed to deposit Rs.5,00,000/- with the IRP for expenses, and the IRP was instructed to update the Corporate Debtor's master data with the Registrar of Companies. en-us Fri, 12 Aug 2022 00:00:00 +0530 Wed, 17 Aug 2022 08:08:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426416 The Tribunal admitted the petition and ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Tribunal found that the Financial Creditor's application was complete, and the Corporate Debtor was in default of a debt due and payable. An Interim Resolution Professional (IRP) was appointed, and a moratorium under Section 14 of the IBC was imposed. The Financial Creditor was directed to deposit Rs.5,00,000/- with the IRP for expenses, and the IRP was instructed to update the Corporate Debtor's master data with the Registrar of Companies. Case-Laws Insolvency and Bankruptcy Fri, 12 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426416