https://www.taxtmi.com/caselaws?id=399508 The tribunal found that the demand draft given by the Corporate Debtor was not towards full and final settlement of the entire claim but for a specific case. It was determined that there was no pre-existing dispute related to the operational debt, despite a winding-up petition being filed. The debt was not considered time-barred due to the exclusion of time spent in previous litigation. Consequently, the tribunal admitted the application under Section 9 of the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor. en-us Mon, 16 Mar 2020 00:00:00 +0530 Tue, 13 Oct 2020 12:34:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399508 The tribunal found that the demand draft given by the Corporate Debtor was not towards full and final settlement of the entire claim but for a specific case. It was determined that there was no pre-existing dispute related to the operational debt, despite a winding-up petition being filed. The debt was not considered time-barred due to the exclusion of time spent in previous litigation. Consequently, the tribunal admitted the application under Section 9 of the Insolvency and Bankruptcy Code, initiating the Corporate Insolvency Resolution Process against the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Mon, 16 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399508