https://www.taxtmi.com/caselaws?id=399470 The tribunal dismissed the petition to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. It found that the Financial Creditor failed to establish the existence of a debt due and payable, and that a default had occurred. The petition contained inconsistencies and inaccuracies, including unauthorized initiation of CIRP, discrepancies in financial transactions, and premature demand notices. The tribunal emphasized that its findings should not prejudice the petitioner's rights in any other judicial forum. en-us Wed, 06 May 2020 00:00:00 +0530 Mon, 12 Oct 2020 11:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399470 The tribunal dismissed the petition to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. It found that the Financial Creditor failed to establish the existence of a debt due and payable, and that a default had occurred. The petition contained inconsistencies and inaccuracies, including unauthorized initiation of CIRP, discrepancies in financial transactions, and premature demand notices. The tribunal emphasized that its findings should not prejudice the petitioner's rights in any other judicial forum. Case-Laws Insolvency and Bankruptcy Wed, 06 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399470