https://www.taxtmi.com/caselaws?id=394772 The Tribunal rejected the petition to initiate Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC, 2016, as the Petitioners failed to prove the existence of debt and default. The Respondent's solvency, successful project completions, and public interest considerations were noted. The Tribunal emphasized that disputed questions should be resolved through civil remedies and arbitration as per the agreements, highlighting that IBC proceedings are not for debt enforcement. en-us Thu, 13 Feb 2020 00:00:00 +0530 Fri, 24 Apr 2020 11:29:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394772 The Tribunal rejected the petition to initiate Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC, 2016, as the Petitioners failed to prove the existence of debt and default. The Respondent's solvency, successful project completions, and public interest considerations were noted. The Tribunal emphasized that disputed questions should be resolved through civil remedies and arbitration as per the agreements, highlighting that IBC proceedings are not for debt enforcement. Case-Laws Insolvency and Bankruptcy Thu, 13 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394772