https://www.taxtmi.com/caselaws?id=428647 The National Company Law Tribunal, Mumbai Bench, admitted HDFC Bank Limited's application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Ritu Automobiles Private Limited for initiating Corporate Insolvency Resolution Process. Despite the Corporate Debtor's non-response, the Tribunal found in favor of the Financial Creditor due to the debt exceeding Rs.1 crore and the Corporate Debtor's failure to make payments. The Tribunal ordered the initiation of CIRP, declared a moratorium, appointed an Interim Resolution Professional, and issued specific directions for the insolvency resolution process. en-us Mon, 03 Oct 2022 00:00:00 +0530 Fri, 07 Oct 2022 13:09:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428647 The National Company Law Tribunal, Mumbai Bench, admitted HDFC Bank Limited's application under Section 7 of the Insolvency & Bankruptcy Code, 2016 against Ritu Automobiles Private Limited for initiating Corporate Insolvency Resolution Process. Despite the Corporate Debtor's non-response, the Tribunal found in favor of the Financial Creditor due to the debt exceeding Rs.1 crore and the Corporate Debtor's failure to make payments. The Tribunal ordered the initiation of CIRP, declared a moratorium, appointed an Interim Resolution Professional, and issued specific directions for the insolvency resolution process. Case-Laws Insolvency and Bankruptcy Mon, 03 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428647