https://www.taxtmi.com/caselaws?id=390979 The application under Section 9 of the Insolvency and Bankruptcy Code for Corporate Insolvency Resolution Process against M/s. Mekko Steel & Power Pvt. Ltd. was dismissed. The Operational Creditor's claim of outstanding dues since 2011 amounting to Rs. 72,57,236 was found time-barred due to lack of clear acknowledgment and evidence. The absence of a valid balance confirmation and insufficient proof of dues, coupled with the court's clarification that the Code is not a recovery forum, led to the dismissal. The judgment stressed the necessity of proper evidence and adherence to legal requirements for acknowledgment in insolvency proceedings. en-us Thu, 14 Nov 2019 00:00:00 +0530 Wed, 15 Jan 2020 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390979 The application under Section 9 of the Insolvency and Bankruptcy Code for Corporate Insolvency Resolution Process against M/s. Mekko Steel & Power Pvt. Ltd. was dismissed. The Operational Creditor's claim of outstanding dues since 2011 amounting to Rs. 72,57,236 was found time-barred due to lack of clear acknowledgment and evidence. The absence of a valid balance confirmation and insufficient proof of dues, coupled with the court's clarification that the Code is not a recovery forum, led to the dismissal. The judgment stressed the necessity of proper evidence and adherence to legal requirements for acknowledgment in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Thu, 14 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390979