https://www.taxtmi.com/caselaws?id=378684 The Tribunal rejected the petition as the Operational Creditor failed to prove a debt due and payable by the Corporate Debtor, M/s Prasad and Company (Project Works) Limited. The claim was deemed premature due to the suspension of work by the Government of Maharashtra, which was considered an unforeseen event beyond the Corporate Debtor's control. As a result, the retention money was not yet owed, and no default was found. en-us Wed, 20 Feb 2019 00:00:00 +0530 Thu, 18 Apr 2019 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378684 The Tribunal rejected the petition as the Operational Creditor failed to prove a debt due and payable by the Corporate Debtor, M/s Prasad and Company (Project Works) Limited. The claim was deemed premature due to the suspension of work by the Government of Maharashtra, which was considered an unforeseen event beyond the Corporate Debtor's control. As a result, the retention money was not yet owed, and no default was found. Case-Laws Insolvency and Bankruptcy Wed, 20 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378684