https://www.taxtmi.com/caselaws?id=443670 The appeal was dismissed, upholding the Adjudicating Authority's decision to admit the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) due to default in payment. The Tribunal allowed Bank of Baroda's intervention, directing the Insolvency Resolution Professional (IRP) to proceed with CIRP without preferential treatment to creditors. The IRP was instructed to manage the Corporate Debtor as a going concern and address management cooperation issues promptly. The Tribunal disposed of the IRP fees application, directing the IRP to discuss costs with the Committee of Creditors. The Appellant's deposit was refunded, and other incidental applications were resolved accordingly. en-us Wed, 27 Sep 2023 00:00:00 +0530 Fri, 29 Sep 2023 07:38:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443670 The appeal was dismissed, upholding the Adjudicating Authority's decision to admit the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) due to default in payment. The Tribunal allowed Bank of Baroda's intervention, directing the Insolvency Resolution Professional (IRP) to proceed with CIRP without preferential treatment to creditors. The IRP was instructed to manage the Corporate Debtor as a going concern and address management cooperation issues promptly. The Tribunal disposed of the IRP fees application, directing the IRP to discuss costs with the Committee of Creditors. The Appellant's deposit was refunded, and other incidental applications were resolved accordingly. Case-Laws Insolvency and Bankruptcy Wed, 27 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443670