https://www.taxtmi.com/caselaws?id=308365 The Adjudicating Authority granted the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor for non-payment of operational dues. Despite the Corporate Debtor's financial difficulties due to the global pandemic, the non-payment was deemed a default, leading to the appointment of an Interim Resolution Professional (IRP) to oversee the CIRP proceedings. The commencement of CIRP invoked a moratorium, transferring management to the IRP and emphasizing adherence to the statutory provisions. Directions were issued for timely communication and procedural compliance among all relevant parties involved. en-us Thu, 28 Jul 2022 00:00:00 +0530 Tue, 20 Jun 2023 21:05:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308365 The Adjudicating Authority granted the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor for non-payment of operational dues. Despite the Corporate Debtor's financial difficulties due to the global pandemic, the non-payment was deemed a default, leading to the appointment of an Interim Resolution Professional (IRP) to oversee the CIRP proceedings. The commencement of CIRP invoked a moratorium, transferring management to the IRP and emphasizing adherence to the statutory provisions. Directions were issued for timely communication and procedural compliance among all relevant parties involved. Case-Laws Insolvency and Bankruptcy Thu, 28 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308365