https://www.taxtmi.com/caselaws?id=399089 Operational dues arising from agency, freight collection, motorboat import and repair charges, and business advances were treated as operational debt because they stemmed from the provision of services and related commercial transactions. Default was supported by account acknowledgements and a written offer to settle part of the liability. A pleaded dispute failed because the alleged objections were not shown to be a plausible, real and pre-existing dispute raised before the demand notice; the reply itself contained admissions and a repayment proposal. On that basis, the insolvency petition met the statutory requirements and corporate insolvency resolution process was initiated. en-us Fri, 29 May 2020 00:00:00 +0530 Sat, 03 Oct 2020 11:47:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399089 Operational dues arising from agency, freight collection, motorboat import and repair charges, and business advances were treated as operational debt because they stemmed from the provision of services and related commercial transactions. Default was supported by account acknowledgements and a written offer to settle part of the liability. A pleaded dispute failed because the alleged objections were not shown to be a plausible, real and pre-existing dispute raised before the demand notice; the reply itself contained admissions and a repayment proposal. On that basis, the insolvency petition met the statutory requirements and corporate insolvency resolution process was initiated. Case-Laws Insolvency and Bankruptcy Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399089