https://www.taxtmi.com/caselaws?id=429080 The Tribunal found in favor of the Operational Creditor (OC) and admitted the Company Petition, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor (CD) for default in payment. An Interim Resolution Professional was appointed to manage the CD's affairs, a moratorium was declared, and cooperation from Directors, Promoters, and associated persons was mandated. The decision was based on the lack of evidence supporting the CD's claims, the OC's proactive actions, and the CD's lack of effective participation in the proceedings. en-us Fri, 30 Sep 2022 00:00:00 +0530 Tue, 18 Oct 2022 08:50:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429080 The Tribunal found in favor of the Operational Creditor (OC) and admitted the Company Petition, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor (CD) for default in payment. An Interim Resolution Professional was appointed to manage the CD's affairs, a moratorium was declared, and cooperation from Directors, Promoters, and associated persons was mandated. The decision was based on the lack of evidence supporting the CD's claims, the OC's proactive actions, and the CD's lack of effective participation in the proceedings. Case-Laws Insolvency and Bankruptcy Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429080