https://www.taxtmi.com/caselaws?id=285198 An operational creditor established unpaid operational debt and default through the supply agreement, invoices, part-payments and demand notice, while the corporate debtor substantially acknowledged liability and disputed only the exact amount and interest. The Tribunal held the section 9 application complete and admitted it. It further held that an arbitration clause in the underlying contract did not bar insolvency proceedings because the Insolvency and Bankruptcy Code operates with overriding effect under section 238. Accordingly, the corporate insolvency resolution process was initiated, moratorium commenced, and an interim resolution professional was appointed. en-us Wed, 25 Sep 2019 00:00:00 +0530 Wed, 01 Jan 2020 16:18:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285198 An operational creditor established unpaid operational debt and default through the supply agreement, invoices, part-payments and demand notice, while the corporate debtor substantially acknowledged liability and disputed only the exact amount and interest. The Tribunal held the section 9 application complete and admitted it. It further held that an arbitration clause in the underlying contract did not bar insolvency proceedings because the Insolvency and Bankruptcy Code operates with overriding effect under section 238. Accordingly, the corporate insolvency resolution process was initiated, moratorium commenced, and an interim resolution professional was appointed. Case-Laws Insolvency and Bankruptcy Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285198