https://www.taxtmi.com/caselaws?id=429026 The Tribunal admitted the petition filed by the Operational Creditor to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to the operational debt exceeding the pecuniary threshold limit and a default on the part of the Corporate Debtor. The Tribunal found the applicant's claim for interest valid, imposed a moratorium, and appointed an Interim Resolution Professional (IRP) to manage the affairs of the Corporate Debtor in accordance with the Insolvency and Bankruptcy Code. Compliance and communication with relevant authorities were also directed for proper execution of the proceedings. en-us Thu, 06 Oct 2022 00:00:00 +0530 Sat, 15 Oct 2022 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429026 The Tribunal admitted the petition filed by the Operational Creditor to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to the operational debt exceeding the pecuniary threshold limit and a default on the part of the Corporate Debtor. The Tribunal found the applicant's claim for interest valid, imposed a moratorium, and appointed an Interim Resolution Professional (IRP) to manage the affairs of the Corporate Debtor in accordance with the Insolvency and Bankruptcy Code. Compliance and communication with relevant authorities were also directed for proper execution of the proceedings. Case-Laws Insolvency and Bankruptcy Thu, 06 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429026