https://www.taxtmi.com/caselaws?id=394066 An operational creditor failed to establish an enforceable liability or operational debt for admission of a petition under section 9 of the Insolvency and Bankruptcy Code, 2016. The claim rested on an offer letter and an unsigned memorandum of understanding, but the offer letter required signed acceptance for formalisation and no accepted copy was produced. The record instead showed a board-approved remuneration structure, continued service under that structure, and no contemporaneous objection to the salary paid. On these facts, the alleged higher contractual liability was not proved, no privity of contract was established on the unsigned documents, and the petition was rejected. en-us Wed, 06 Nov 2019 00:00:00 +0530 Tue, 31 Mar 2020 12:31:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394066 An operational creditor failed to establish an enforceable liability or operational debt for admission of a petition under section 9 of the Insolvency and Bankruptcy Code, 2016. The claim rested on an offer letter and an unsigned memorandum of understanding, but the offer letter required signed acceptance for formalisation and no accepted copy was produced. The record instead showed a board-approved remuneration structure, continued service under that structure, and no contemporaneous objection to the salary paid. On these facts, the alleged higher contractual liability was not proved, no privity of contract was established on the unsigned documents, and the petition was rejected. Case-Laws Insolvency and Bankruptcy Wed, 06 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394066