https://www.taxtmi.com/caselaws?id=283801 The Delhi High Court transferred a winding-up petition to the National Company Law Tribunal (NCLT) following the constitution of the NCLT. The NCLT admitted an Operational Creditor's petition against an Operational Debtor for an unpaid debt of Rs. 90,23,846, despite the Debtor's claims of defective materials. The NCLT initiated the insolvency process, appointing a resolution professional and mandating cooperation from all parties associated with the Debtor. Failure to cooperate could result in further legal action as per the Insolvency and Bankruptcy Code. The judgment concluded with the disposal of the application in compliance with the Code. en-us Thu, 01 Jun 2017 00:00:00 +0530 Mon, 14 Oct 2019 09:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283801 The Delhi High Court transferred a winding-up petition to the National Company Law Tribunal (NCLT) following the constitution of the NCLT. The NCLT admitted an Operational Creditor's petition against an Operational Debtor for an unpaid debt of Rs. 90,23,846, despite the Debtor's claims of defective materials. The NCLT initiated the insolvency process, appointing a resolution professional and mandating cooperation from all parties associated with the Debtor. Failure to cooperate could result in further legal action as per the Insolvency and Bankruptcy Code. The judgment concluded with the disposal of the application in compliance with the Code. Case-Laws Companies Law Thu, 01 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283801