https://www.taxtmi.com/caselaws?id=290281 The Tribunal found the operational creditor's application maintainable, as the creditor was engaged in wholesale trading. It held that no pre-existing dispute existed as the debtor failed to raise one timely. The demand notice was deemed valid as it was sent by the proprietor. The claimed settlement through WhatsApp was dismissed for lack of written agreement. Consequently, the application was admitted, initiating the Corporate Insolvency Resolution Process against the debtor, imposing a moratorium, and appointing an Interim Resolution Professional. en-us Tue, 17 Mar 2020 00:00:00 +0530 Thu, 17 Sep 2020 10:19:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290281 The Tribunal found the operational creditor's application maintainable, as the creditor was engaged in wholesale trading. It held that no pre-existing dispute existed as the debtor failed to raise one timely. The demand notice was deemed valid as it was sent by the proprietor. The claimed settlement through WhatsApp was dismissed for lack of written agreement. Consequently, the application was admitted, initiating the Corporate Insolvency Resolution Process against the debtor, imposing a moratorium, and appointing an Interim Resolution Professional. Case-Laws Insolvency and Bankruptcy Tue, 17 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290281