https://www.taxtmi.com/caselaws?id=193751 The National Company Law Tribunal, Mumbai, rejected a Creditor Petition under Section 9 of the Insolvency and Bankruptcy Code due to the operational creditor's failure to submit a certificate from the Financial Institution confirming non-payment of the operational debt by the Corporate Debtor, as required by Section 9(3)(c) of the Code. Despite being given an opportunity, the creditor did not provide the necessary certificate, citing difficulties in obtaining it from an overseas bank. The Tribunal emphasized the mandatory nature of this requirement, leading to the rejection of the petition for non-compliance. en-us Mon, 30 Jan 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193751 The National Company Law Tribunal, Mumbai, rejected a Creditor Petition under Section 9 of the Insolvency and Bankruptcy Code due to the operational creditor's failure to submit a certificate from the Financial Institution confirming non-payment of the operational debt by the Corporate Debtor, as required by Section 9(3)(c) of the Code. Despite being given an opportunity, the creditor did not provide the necessary certificate, citing difficulties in obtaining it from an overseas bank. The Tribunal emphasized the mandatory nature of this requirement, leading to the rejection of the petition for non-compliance. Case-Laws Insolvency and Bankruptcy Mon, 30 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193751