https://www.taxtmi.com/caselaws?id=398355 The court allowed time for the parties to negotiate a settlement in a case involving the initiation of Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor filed a petition against the Corporate Debtor for defaulting on a payment of Rs. 1,31,31,402. Both parties expressed willingness to settle the matter, with the Tribunal granting the Corporate Debtor four months to repay the debt. Failure to do so would allow the Operational Creditor to file a fresh petition for admission, emphasizing the importance of resolving the debt amidst the economic scenario. en-us Mon, 29 Jun 2020 00:00:00 +0530 Mon, 14 Sep 2020 09:23:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398355 The court allowed time for the parties to negotiate a settlement in a case involving the initiation of Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor filed a petition against the Corporate Debtor for defaulting on a payment of Rs. 1,31,31,402. Both parties expressed willingness to settle the matter, with the Tribunal granting the Corporate Debtor four months to repay the debt. Failure to do so would allow the Operational Creditor to file a fresh petition for admission, emphasizing the importance of resolving the debt amidst the economic scenario. Case-Laws Insolvency and Bankruptcy Mon, 29 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398355