https://www.taxtmi.com/caselaws?id=304963 The Tribunal ruled in favor of the Financial Creditor, admitting the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Tribunal considered the One Time Settlement (OTS) proposal as an acknowledgment of debt, extending the limitation period for filing. The appointed Interim Resolution Professional (IRP) was tasked with managing the CIRP, imposing a moratorium to protect the debtor's assets. The Financial Creditor was directed to pay the IRP's fees and expenses, and the application was allowed and disposed of accordingly. en-us Tue, 31 Aug 2021 00:00:00 +0530 Wed, 09 Nov 2022 08:00:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304963 The Tribunal ruled in favor of the Financial Creditor, admitting the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Tribunal considered the One Time Settlement (OTS) proposal as an acknowledgment of debt, extending the limitation period for filing. The appointed Interim Resolution Professional (IRP) was tasked with managing the CIRP, imposing a moratorium to protect the debtor's assets. The Financial Creditor was directed to pay the IRP's fees and expenses, and the application was allowed and disposed of accordingly. Case-Laws Insolvency and Bankruptcy Tue, 31 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304963