https://www.taxtmi.com/caselaws?id=349976 The Tribunal rejected the application seeking initiation of Corporate Insolvency resolution process against the respondent corporate debtor due to the applicant's failure to comply with the mandatory requirement of filing a certificate from financial institutions confirming the absence of payment of unpaid operational debt by the debtor, as per Section 9(3)(c) of the Insolvency and Bankruptcy Code. Despite the opportunity to rectify the deficiency, the applicant did not submit the required certificate within the specified timeframe. The Tribunal emphasized strict compliance with statutory provisions and upheld the rejection based on the incomplete application. en-us Tue, 12 Sep 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349976 The Tribunal rejected the application seeking initiation of Corporate Insolvency resolution process against the respondent corporate debtor due to the applicant's failure to comply with the mandatory requirement of filing a certificate from financial institutions confirming the absence of payment of unpaid operational debt by the debtor, as per Section 9(3)(c) of the Insolvency and Bankruptcy Code. Despite the opportunity to rectify the deficiency, the applicant did not submit the required certificate within the specified timeframe. The Tribunal emphasized strict compliance with statutory provisions and upheld the rejection based on the incomplete application. Case-Laws Insolvency and Bankruptcy Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349976