https://www.taxtmi.com/caselaws?id=346332 The Tribunal admitted the insolvency petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor for an outstanding debt claim of USD 445,416. Despite objections raised by the Corporate Debtor regarding consignment quality and interest rates, the Tribunal deemed them unsustainable and lacking merit. The Tribunal emphasized the need for genuine disputes and admitted the petition, initiating the Corporate Insolvency Resolution Process for 180 days. A moratorium was declared, and an Interim Insolvency Professional was recommended to oversee the resolution process, ensuring protection of essential goods or services supply to the Corporate Debtor. en-us Fri, 16 Jun 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346332 The Tribunal admitted the insolvency petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Corporate Debtor for an outstanding debt claim of USD 445,416. Despite objections raised by the Corporate Debtor regarding consignment quality and interest rates, the Tribunal deemed them unsustainable and lacking merit. The Tribunal emphasized the need for genuine disputes and admitted the petition, initiating the Corporate Insolvency Resolution Process for 180 days. A moratorium was declared, and an Interim Insolvency Professional was recommended to oversee the resolution process, ensuring protection of essential goods or services supply to the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346332