https://www.taxtmi.com/caselaws?id=290320 The Tribunal dismissed the insolvency application filed by the Applicant under Section 9 of the Insolvency and Bankruptcy Code against the respondent, a Corporate Debtor. The dispute stemmed from allegations of nonperformance and substandard supply of materials related to the wet scrubber system installation. The Tribunal found the application not maintainable due to pending arbitration proceedings, a dismissed petition under the Criminal Procedure Code, and identified deficiencies in the installed system. Emphasizing the importance of completing contractual obligations and ensuring satisfactory equipment performance, the Tribunal ruled in favor of the respondent, denying the claim of operational debt. en-us Fri, 28 Apr 2017 00:00:00 +0530 Sat, 19 Sep 2020 16:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290320 The Tribunal dismissed the insolvency application filed by the Applicant under Section 9 of the Insolvency and Bankruptcy Code against the respondent, a Corporate Debtor. The dispute stemmed from allegations of nonperformance and substandard supply of materials related to the wet scrubber system installation. The Tribunal found the application not maintainable due to pending arbitration proceedings, a dismissed petition under the Criminal Procedure Code, and identified deficiencies in the installed system. Emphasizing the importance of completing contractual obligations and ensuring satisfactory equipment performance, the Tribunal ruled in favor of the respondent, denying the claim of operational debt. Case-Laws Insolvency and Bankruptcy Fri, 28 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290320