https://www.taxtmi.com/caselaws?id=401094 The Appellate Tribunal set aside the order initiating Corporate Insolvency Resolution Process against the Corporate Debtor, citing the existence of a pre-existing dispute that prevented invoking insolvency provisions. Disputes over payments to employees, dishonored cheques, and limitation periods were highlighted, with the Tribunal directing resolution by an appropriate forum. The Operational Creditor failed to prove the nature of payments, leading to the Tribunal emphasizing the onus of proof. Additionally, the Adjudicating Authority was directed to compensate the Insolvency Resolution Professional for incurred expenses. en-us Wed, 25 Nov 2020 00:00:00 +0530 Fri, 27 Nov 2020 10:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401094 The Appellate Tribunal set aside the order initiating Corporate Insolvency Resolution Process against the Corporate Debtor, citing the existence of a pre-existing dispute that prevented invoking insolvency provisions. Disputes over payments to employees, dishonored cheques, and limitation periods were highlighted, with the Tribunal directing resolution by an appropriate forum. The Operational Creditor failed to prove the nature of payments, leading to the Tribunal emphasizing the onus of proof. Additionally, the Adjudicating Authority was directed to compensate the Insolvency Resolution Professional for incurred expenses. Case-Laws Insolvency and Bankruptcy Wed, 25 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401094