https://www.taxtmi.com/caselaws?id=282861 The court admitted the petition under Section 9 of the Insolvency Bankruptcy Code for initiating Corporate Insolvency Resolution Process against the Corporate Debtor due to unpaid dues. Despite the Corporate Debtor's defense on limitation and interest, acknowledgment of partial payment rendered the outstanding amount recoverable. An Interim Resolution Professional (IRP) was appointed to oversee the resolution process, emphasizing compliance with statutory requirements. The decision underscores the importance of adhering to legal provisions in insolvency proceedings for effective resolution of financial disputes between creditors and debtors. en-us Thu, 02 Aug 2018 00:00:00 +0530 Wed, 28 Aug 2019 17:19:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282861 The court admitted the petition under Section 9 of the Insolvency Bankruptcy Code for initiating Corporate Insolvency Resolution Process against the Corporate Debtor due to unpaid dues. Despite the Corporate Debtor's defense on limitation and interest, acknowledgment of partial payment rendered the outstanding amount recoverable. An Interim Resolution Professional (IRP) was appointed to oversee the resolution process, emphasizing compliance with statutory requirements. The decision underscores the importance of adhering to legal provisions in insolvency proceedings for effective resolution of financial disputes between creditors and debtors. Case-Laws Insolvency and Bankruptcy Thu, 02 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282861