https://www.taxtmi.com/caselaws?id=394101 The National Company Law Tribunal rejected the operational creditor's application under section 9 of the Insolvency and Bankruptcy Code, 2016 against the corporate debtor for defaulting on repayment. The tribunal emphasized the need for the creditor to prove the debt due and default committed by the debtor, considering factors such as project completion terms, liability for retention money, and a suspension order by the Government of Maharashtra. The appeal was dismissed due to disputed facts, lack of relief granted, and issues regarding debts, default, and party representation. en-us Mon, 18 Nov 2019 00:00:00 +0530 Wed, 01 Apr 2020 14:29:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394101 The National Company Law Tribunal rejected the operational creditor's application under section 9 of the Insolvency and Bankruptcy Code, 2016 against the corporate debtor for defaulting on repayment. The tribunal emphasized the need for the creditor to prove the debt due and default committed by the debtor, considering factors such as project completion terms, liability for retention money, and a suspension order by the Government of Maharashtra. The appeal was dismissed due to disputed facts, lack of relief granted, and issues regarding debts, default, and party representation. Case-Laws Insolvency and Bankruptcy Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394101