https://www.taxtmi.com/caselaws?id=386621 The Tribunal dismissed the Petitioner's claim to initiate the Corporate Insolvency Resolution Process against the Respondent under the Insolvency and Bankruptcy Code. It found that the Petitioner failed to prove the outstanding amount and did not provide sufficient evidence to support the claim. The Tribunal emphasized that the IBC cannot be used for debt recovery when the debt is disputed and ruled in favor of the Respondent, stating that the Petitioner could explore other legal remedies available. No costs were awarded in the case. en-us Mon, 08 Jul 2019 00:00:00 +0530 Fri, 04 Oct 2019 09:52:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386621 The Tribunal dismissed the Petitioner's claim to initiate the Corporate Insolvency Resolution Process against the Respondent under the Insolvency and Bankruptcy Code. It found that the Petitioner failed to prove the outstanding amount and did not provide sufficient evidence to support the claim. The Tribunal emphasized that the IBC cannot be used for debt recovery when the debt is disputed and ruled in favor of the Respondent, stating that the Petitioner could explore other legal remedies available. No costs were awarded in the case. Case-Laws Insolvency and Bankruptcy Mon, 08 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386621