https://www.taxtmi.com/caselaws?id=786387 Interlocutory undertakings and observations in interlocutory proceedings do not attain finality and cannot be read down to defeat initiation of a corporate insolvency resolution process; findings confined to interlocutory applications remain operative only for those proceedings and cannot be borrowed to negate independent statutory remedy. Where a respondent has admitted liability in the record, that admission constitutes an acknowledgment of debt sufficient to crystallize liability and justify initiation of CIRP. Consequently the challenge that the debt had not crystallized due to an undertaking was rejected and the appeal against initiation of CIRP was dismissed. en-us Tue, 13 Jan 2026 00:00:00 +0530 Thu, 12 Feb 2026 09:03:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786387 Interlocutory undertakings and observations in interlocutory proceedings do not attain finality and cannot be read down to defeat initiation of a corporate insolvency resolution process; findings confined to interlocutory applications remain operative only for those proceedings and cannot be borrowed to negate independent statutory remedy. Where a respondent has admitted liability in the record, that admission constitutes an acknowledgment of debt sufficient to crystallize liability and justify initiation of CIRP. Consequently the challenge that the debt had not crystallized due to an undertaking was rejected and the appeal against initiation of CIRP was dismissed. Case-Laws IBC Tue, 13 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786387