https://www.taxtmi.com/caselaws?id=428963 The Tribunal admitted the Company Petition, ordering the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. An Interim Resolution Professional was appointed, and initial CIRP costs were specified. The Tribunal imposed restrictions on legal actions against the Corporate Debtor, ensuring continuity of essential services during the moratorium period. Management vested in the IRP/RP during CIRP, with necessary notifications directed to relevant authorities. The Tribunal rejected the Corporate Debtor's limitation plea and defense of pre-existing disputes, finding them unsubstantiated. The Registry was instructed to promptly communicate the order to all parties. en-us Tue, 11 Oct 2022 00:00:00 +0530 Sat, 15 Oct 2022 09:09:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428963 The Tribunal admitted the Company Petition, ordering the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. An Interim Resolution Professional was appointed, and initial CIRP costs were specified. The Tribunal imposed restrictions on legal actions against the Corporate Debtor, ensuring continuity of essential services during the moratorium period. Management vested in the IRP/RP during CIRP, with necessary notifications directed to relevant authorities. The Tribunal rejected the Corporate Debtor's limitation plea and defense of pre-existing disputes, finding them unsubstantiated. The Registry was instructed to promptly communicate the order to all parties. Case-Laws Insolvency and Bankruptcy Tue, 11 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428963