https://www.taxtmi.com/caselaws?id=429630 The Tribunal admitted the application under Section 9(5) of the IBC, 2016, initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declared a moratorium, and appointed an Interim Resolution Professional (IRP). The Operational Creditor was directed to pay Rs. 2,00,000 to the IRP for expenses. The IRP is tasked with managing the Corporate Debtor, calling for creditor claims, and following IBC regulations. Progress reports are to be filed within 45 days, and the CIRP process is to be communicated to relevant authorities. en-us Fri, 14 Oct 2022 00:00:00 +0530 Wed, 02 Nov 2022 09:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429630 The Tribunal admitted the application under Section 9(5) of the IBC, 2016, initiated the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, declared a moratorium, and appointed an Interim Resolution Professional (IRP). The Operational Creditor was directed to pay Rs. 2,00,000 to the IRP for expenses. The IRP is tasked with managing the Corporate Debtor, calling for creditor claims, and following IBC regulations. Progress reports are to be filed within 45 days, and the CIRP process is to be communicated to relevant authorities. Case-Laws Insolvency and Bankruptcy Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429630