https://www.taxtmi.com/caselaws?id=311694 NCLT New Delhi admitted a corporate insolvency application filed under Section 10 of IBC 2016 by the corporate debtor's directors through board resolution. The Tribunal found the corporate applicant had defaulted on debt payments to creditors. An interim resolution professional was appointed as required under Section 10(3)(b). Moratorium under Section 14(1) was imposed prohibiting specified actions against the corporate debtor. The applicant was directed to deposit Rs. 2 lakhs with the interim resolution professional within one week to cover expenses, subject to adjustment by the Committee of Creditors. en-us Mon, 21 Nov 2022 00:00:00 +0530 Tue, 09 Jan 2024 11:36:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311694 NCLT New Delhi admitted a corporate insolvency application filed under Section 10 of IBC 2016 by the corporate debtor's directors through board resolution. The Tribunal found the corporate applicant had defaulted on debt payments to creditors. An interim resolution professional was appointed as required under Section 10(3)(b). Moratorium under Section 14(1) was imposed prohibiting specified actions against the corporate debtor. The applicant was directed to deposit Rs. 2 lakhs with the interim resolution professional within one week to cover expenses, subject to adjustment by the Committee of Creditors. Case-Laws Insolvency and Bankruptcy Mon, 21 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311694