https://www.taxtmi.com/caselaws?id=378496 The Tribunal ruled in favor of the Applicant, M/s. Nuvoco Vistas Corporation Limited, in a case against the Respondent Company, Maxout Infrastructures Private Limited, for non-payment of a debt related to supplies of Ready-Mix Concrete. Despite partial payments by the Respondent, a significant amount remained unpaid, leading to the Tribunal admitting the application under Section 9(5) of the Insolvency and Bankruptcy Code, 2016. The Tribunal held that the pendency of a winding up petition in the High Court did not bar the initiation of Corporate Insolvency Resolution Process (CIRP) as long as no Official Liquidator had been appointed and no winding up order passed. en-us Fri, 01 Feb 2019 00:00:00 +0530 Wed, 17 Apr 2019 14:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378496 The Tribunal ruled in favor of the Applicant, M/s. Nuvoco Vistas Corporation Limited, in a case against the Respondent Company, Maxout Infrastructures Private Limited, for non-payment of a debt related to supplies of Ready-Mix Concrete. Despite partial payments by the Respondent, a significant amount remained unpaid, leading to the Tribunal admitting the application under Section 9(5) of the Insolvency and Bankruptcy Code, 2016. The Tribunal held that the pendency of a winding up petition in the High Court did not bar the initiation of Corporate Insolvency Resolution Process (CIRP) as long as no Official Liquidator had been appointed and no winding up order passed. Case-Laws Insolvency and Bankruptcy Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378496