https://www.taxtmi.com/highlights?id=45988 Initiation of Corporate Insolvency Resolution Process - default in making repayment - the Operational Creditor becomes entitled to retention money of 25% or 20% only if it completes the terms of purchase order, especially erection, commissioning and trial run - since contract was not completed, amount does not become due, then there is no question of default - petition dismissed en-us Fri, 19 Apr 2019 08:54:08 +0530 Fri, 19 Apr 2019 08:54:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=45988 Initiation of Corporate Insolvency Resolution Process - default in making repayment - the Operational Creditor becomes entitled to retention money of 25% or 20% only if it completes the terms of purchase order, especially erection, commissioning and trial run - since contract was not completed, amount does not become due, then there is no question of default - petition dismissed Highlights Insolvency and Bankruptcy Fri, 19 Apr 2019 08:54:08 +0530 https://www.taxtmi.com/highlights?id=45988