https://www.taxtmi.com/caselaws?id=390978 The Tribunal rejected the petition under the Insolvency and Bankruptcy Code, 2016, as there was a substantial pre-existing dispute between the parties regarding payment for legal services provided for an IPO. The Corporate Debtor had made initial payments as per the agreement, but further payments were contingent on specific milestones not achieved. The Tribunal found that the Operational Creditor did not raise invoices based on standard hourly rates within the stipulated period. Due to the pre-existing dispute and failure to meet conditions in the agreement, the petition was not admitted, and no costs were awarded. en-us Tue, 17 Sep 2019 00:00:00 +0530 Thu, 16 Jan 2020 14:18:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390978 The Tribunal rejected the petition under the Insolvency and Bankruptcy Code, 2016, as there was a substantial pre-existing dispute between the parties regarding payment for legal services provided for an IPO. The Corporate Debtor had made initial payments as per the agreement, but further payments were contingent on specific milestones not achieved. The Tribunal found that the Operational Creditor did not raise invoices based on standard hourly rates within the stipulated period. Due to the pre-existing dispute and failure to meet conditions in the agreement, the petition was not admitted, and no costs were awarded. Case-Laws Insolvency and Bankruptcy Tue, 17 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390978