https://www.taxtmi.com/caselaws?id=398280 The Tribunal dismissed the application for initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency & Bankruptcy Code (IBC) as the default of instalments under the Settlement Agreement did not meet the definition of operational debt. The Tribunal found that the claim based on the Settlement Agreement dated 15.06.2018 was not enforceable as operational debt, leading to the dismissal of the application. en-us Wed, 22 Jul 2020 00:00:00 +0530 Mon, 08 Mar 2021 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398280 The Tribunal dismissed the application for initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency & Bankruptcy Code (IBC) as the default of instalments under the Settlement Agreement did not meet the definition of operational debt. The Tribunal found that the claim based on the Settlement Agreement dated 15.06.2018 was not enforceable as operational debt, leading to the dismissal of the application. Case-Laws Insolvency and Bankruptcy Wed, 22 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398280