https://www.taxtmi.com/caselaws?id=386164 Failure to comply with a sanctioned one-time settlement does not extinguish the underlying debt under the Insolvency and Bankruptcy Code, 2016. The record showed that the corporate debtor agreed to pay the settled amount but did not follow the payment schedule, the account became non-performing, reminders were issued, and the settlement was cancelled for non-payment. On those facts, the original outstanding liability remained enforceable, and the documents and payment history were treated as sufficient to establish debt and default for admission of the section 7 petition. en-us Wed, 01 May 2019 00:00:00 +0530 Mon, 23 Sep 2019 07:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386164 Failure to comply with a sanctioned one-time settlement does not extinguish the underlying debt under the Insolvency and Bankruptcy Code, 2016. The record showed that the corporate debtor agreed to pay the settled amount but did not follow the payment schedule, the account became non-performing, reminders were issued, and the settlement was cancelled for non-payment. On those facts, the original outstanding liability remained enforceable, and the documents and payment history were treated as sufficient to establish debt and default for admission of the section 7 petition. Case-Laws Insolvency and Bankruptcy Wed, 01 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386164