https://www.taxtmi.com/caselaws?id=291413 The Tribunal dismissed the CIRP application, finding that the Respondent had cleared its liabilities by making payments, showing no default at the hearing date. As per IBC, a default and non-payment are prerequisites for invoking CIRP. Since the Respondent denied liability, the application was rejected, allowing the Petitioner to pursue alternative legal remedies. No costs were awarded in the matter. en-us Tue, 04 Jun 2019 00:00:00 +0530 Mon, 09 Nov 2020 18:26:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291413 The Tribunal dismissed the CIRP application, finding that the Respondent had cleared its liabilities by making payments, showing no default at the hearing date. As per IBC, a default and non-payment are prerequisites for invoking CIRP. Since the Respondent denied liability, the application was rejected, allowing the Petitioner to pursue alternative legal remedies. No costs were awarded in the matter. Case-Laws Insolvency and Bankruptcy Tue, 04 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291413