https://www.taxtmi.com/caselaws?id=283750 The Tribunal ruled in favor of the Operational Creditor in a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016. Despite a new agreement superseding an earlier one, the Corporate Debtor was found liable to pay for power already consumed under the old agreement. The Tribunal established the existence of debt and default, admitting the Company Petition for Corporate Insolvency Resolution Process. A moratorium was declared to protect the Corporate Debtor, ensure essential supplies, appoint an Interim Resolution Professional, and initiate the insolvency resolution process. en-us Thu, 28 Mar 2019 00:00:00 +0530 Thu, 10 Oct 2019 11:38:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283750 The Tribunal ruled in favor of the Operational Creditor in a Company Petition under Section 9 of the Insolvency & Bankruptcy Code, 2016. Despite a new agreement superseding an earlier one, the Corporate Debtor was found liable to pay for power already consumed under the old agreement. The Tribunal established the existence of debt and default, admitting the Company Petition for Corporate Insolvency Resolution Process. A moratorium was declared to protect the Corporate Debtor, ensure essential supplies, appoint an Interim Resolution Professional, and initiate the insolvency resolution process. Case-Laws Insolvency and Bankruptcy Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283750