https://www.taxtmi.com/caselaws?id=286441 The Tribunal rejected the petition to initiate Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code against the respondent, a Corporate Debtor. The Tribunal found no evidence supporting the claim that the Corporate Debtor engaged the Operational Creditor for securing financial assistance, as there was no agreement to pay the service charges claimed. The absence of essential documents and a plausible dispute regarding the outstanding amount led to the conclusion that insolvency proceedings were not warranted. The petition was rejected, and the file was consigned to the record room. en-us Wed, 03 Jul 2019 00:00:00 +0530 Wed, 26 Feb 2020 10:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286441 The Tribunal rejected the petition to initiate Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code against the respondent, a Corporate Debtor. The Tribunal found no evidence supporting the claim that the Corporate Debtor engaged the Operational Creditor for securing financial assistance, as there was no agreement to pay the service charges claimed. The absence of essential documents and a plausible dispute regarding the outstanding amount led to the conclusion that insolvency proceedings were not warranted. The petition was rejected, and the file was consigned to the record room. Case-Laws Insolvency and Bankruptcy Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286441