https://www.taxtmi.com/caselaws?id=291067 The adjudicating authority found in favor of the operational creditor in a petition under Section 9 of The Insolvency and Bankruptcy Code, 2016 against the corporate debtor for outstanding payment of goods supplied. The respondent did not dispute the debt, and evidence presented supported the claim, leading to the conclusion that operational debt exceeding &8377;1.00 lac was due. Consequently, the authority initiated the Insolvency Resolution Process, imposing a moratorium under Section 13 of the Code and appointing an Interim Resolution Professional to oversee the resolution process and protect the debtor's assets. en-us Fri, 13 Dec 2019 00:00:00 +0530 Tue, 27 Oct 2020 10:28:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291067 The adjudicating authority found in favor of the operational creditor in a petition under Section 9 of The Insolvency and Bankruptcy Code, 2016 against the corporate debtor for outstanding payment of goods supplied. The respondent did not dispute the debt, and evidence presented supported the claim, leading to the conclusion that operational debt exceeding &8377;1.00 lac was due. Consequently, the authority initiated the Insolvency Resolution Process, imposing a moratorium under Section 13 of the Code and appointing an Interim Resolution Professional to oversee the resolution process and protect the debtor's assets. Case-Laws Insolvency and Bankruptcy Fri, 13 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291067