https://www.taxtmi.com/caselaws?id=429141 The Tribunal admitted the Company Petition, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor based on the default in payment and the acknowledgment of the advance amount as operational debt, following a broad interpretation of operational debt as per a Supreme Court judgment. An Interim Resolution Professional was appointed, and a moratorium was declared in accordance with the Insolvency and Bankruptcy Code, with directions for cooperation from Directors, Promoters, and associated individuals. en-us Thu, 29 Sep 2022 00:00:00 +0530 Wed, 19 Oct 2022 09:06:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429141 The Tribunal admitted the Company Petition, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor based on the default in payment and the acknowledgment of the advance amount as operational debt, following a broad interpretation of operational debt as per a Supreme Court judgment. An Interim Resolution Professional was appointed, and a moratorium was declared in accordance with the Insolvency and Bankruptcy Code, with directions for cooperation from Directors, Promoters, and associated individuals. Case-Laws Insolvency and Bankruptcy Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429141