https://www.taxtmi.com/caselaws?id=401445 The court found that the Petitioner's motive was debt recovery rather than a genuine intent to initiate Corporate Insolvency Resolution Process (CIRP) for insolvency. As the Petitioner did not establish the insolvency of the Corporate Debtor, the case for CIRP initiation was dismissed. The court allowed the Petitioner to pursue other legal avenues for debt recovery and directed the Respondent to resolve the matter without costs. en-us Wed, 02 Sep 2020 00:00:00 +0530 Tue, 08 Dec 2020 11:00:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401445 The court found that the Petitioner's motive was debt recovery rather than a genuine intent to initiate Corporate Insolvency Resolution Process (CIRP) for insolvency. As the Petitioner did not establish the insolvency of the Corporate Debtor, the case for CIRP initiation was dismissed. The court allowed the Petitioner to pursue other legal avenues for debt recovery and directed the Respondent to resolve the matter without costs. Case-Laws Insolvency and Bankruptcy Wed, 02 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401445