https://www.taxtmi.com/caselaws?id=390494 The National Company Law Tribunal dismissed the petition for winding up M/s. MetroCorp Infrastructure Ltd. under Sections 433(e), (f), and 434 of the Companies Act, 1956, and the initiation of Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The Tribunal held that the petitioners failed to establish their claims for non-payment of salaries and other dues, emphasizing that the IBC is not meant for mere recovery of outstanding amounts without undisputed debt. Petitioners were granted liberty to seek alternative remedies for recovering the alleged dues. en-us Thu, 19 Sep 2019 00:00:00 +0530 Sat, 11 Jan 2020 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390494 The National Company Law Tribunal dismissed the petition for winding up M/s. MetroCorp Infrastructure Ltd. under Sections 433(e), (f), and 434 of the Companies Act, 1956, and the initiation of Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The Tribunal held that the petitioners failed to establish their claims for non-payment of salaries and other dues, emphasizing that the IBC is not meant for mere recovery of outstanding amounts without undisputed debt. Petitioners were granted liberty to seek alternative remedies for recovering the alleged dues. Case-Laws Companies Law Thu, 19 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390494