https://www.taxtmi.com/caselaws?id=429250 The Tribunal, in a petition under Section 95 of IBC, initiated Corporate Insolvency Resolution Process (CIRP) against the Personal Guarantor and Corporate Debtor due to default in repayment. Despite no appearance by the Respondents, the Tribunal highlighted the importance of the Resolution Professional's report and emphasized adherence to principles of natural justice. The judgment clarified procedures under IBC sections 95 to 100, addressing the replacement of the Resolution Professional and the Debtor's right to present their case. The Tribunal appointed an Interim Resolution Professional without notice to the Respondent, directing submission of a report within 10 days for a smooth transition into the CIRP process. en-us Mon, 10 Oct 2022 00:00:00 +0530 Fri, 21 Oct 2022 07:25:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429250 The Tribunal, in a petition under Section 95 of IBC, initiated Corporate Insolvency Resolution Process (CIRP) against the Personal Guarantor and Corporate Debtor due to default in repayment. Despite no appearance by the Respondents, the Tribunal highlighted the importance of the Resolution Professional's report and emphasized adherence to principles of natural justice. The judgment clarified procedures under IBC sections 95 to 100, addressing the replacement of the Resolution Professional and the Debtor's right to present their case. The Tribunal appointed an Interim Resolution Professional without notice to the Respondent, directing submission of a report within 10 days for a smooth transition into the CIRP process. Case-Laws Insolvency and Bankruptcy Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429250