https://www.taxtmi.com/caselaws?id=395938 An application under section 9 of the Insolvency and Bankruptcy Code was found not maintainable because the applicant failed to prove operational debt and default. The Tribunal examined invoices, bill of lading, correspondence and pleadings, but held that satisfactory proof of delivery of goods to the respondent was absent. Referring to section 46(2) of the Sale of Goods Act, it noted that where property in goods has not passed and payment is unpaid, the seller's remedies may include withholding delivery and seeking damages if goods are not delivered. On that basis, the claim was held not to qualify as operational debt for CIRP purposes and the petition was dismissed. en-us Tue, 05 May 2020 00:00:00 +0530 Mon, 15 Jun 2020 10:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395938 An application under section 9 of the Insolvency and Bankruptcy Code was found not maintainable because the applicant failed to prove operational debt and default. The Tribunal examined invoices, bill of lading, correspondence and pleadings, but held that satisfactory proof of delivery of goods to the respondent was absent. Referring to section 46(2) of the Sale of Goods Act, it noted that where property in goods has not passed and payment is unpaid, the seller's remedies may include withholding delivery and seeking damages if goods are not delivered. On that basis, the claim was held not to qualify as operational debt for CIRP purposes and the petition was dismissed. Case-Laws Insolvency and Bankruptcy Tue, 05 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395938