https://www.taxtmi.com/caselaws?id=392953 Charges for use of airport retail space, described in correspondence as monthly rental, were held not to constitute operational debt under the Insolvency and Bankruptcy Code, 2016 because the asserted MMG payment basis lacked mutual acceptance and an enforceable commercial foundation. The record also showed repeated disputes over the basis and quantum of liability, including requests for sales details and negotiations to resolve commercials, establishing a pre-existing dispute between the parties. As insolvency proceedings cannot be used as a debt recovery mechanism in the presence of such dispute, the Section 9 petition was not maintainable and the application for corporate insolvency resolution failed. en-us Tue, 31 Dec 2019 00:00:00 +0530 Tue, 03 Mar 2020 11:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392953 Charges for use of airport retail space, described in correspondence as monthly rental, were held not to constitute operational debt under the Insolvency and Bankruptcy Code, 2016 because the asserted MMG payment basis lacked mutual acceptance and an enforceable commercial foundation. The record also showed repeated disputes over the basis and quantum of liability, including requests for sales details and negotiations to resolve commercials, establishing a pre-existing dispute between the parties. As insolvency proceedings cannot be used as a debt recovery mechanism in the presence of such dispute, the Section 9 petition was not maintainable and the application for corporate insolvency resolution failed. Case-Laws Insolvency and Bankruptcy Tue, 31 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392953