https://www.taxtmi.com/caselaws?id=352702 The petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by an Operational Creditor for non-payment of dues by the Corporate Debtor, was admitted. The Tribunal found the Respondent's objections regarding the nature of the transaction and alleged financial losses to be unsubstantiated. Acknowledgments of the debt and part payments made by the Respondent led to the conclusion of clear liability on the part of the Corporate Debtor. Consequently, a moratorium was imposed under Section 14 of the Code, and an Insolvency Resolution Professional (IRP) was appointed to oversee the resolution process. en-us Fri, 08 Sep 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352702 The petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by an Operational Creditor for non-payment of dues by the Corporate Debtor, was admitted. The Tribunal found the Respondent's objections regarding the nature of the transaction and alleged financial losses to be unsubstantiated. Acknowledgments of the debt and part payments made by the Respondent led to the conclusion of clear liability on the part of the Corporate Debtor. Consequently, a moratorium was imposed under Section 14 of the Code, and an Insolvency Resolution Professional (IRP) was appointed to oversee the resolution process. Case-Laws Insolvency and Bankruptcy Fri, 08 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352702