https://www.taxtmi.com/caselaws?id=401571 The Tribunal admitted the application under section 9 of the Insolvency and Bankruptcy Code, 2016, for Corporate Insolvency Resolution Process. The Applicant, an Operational Creditor, sought initiation against the Respondent, a Corporate Debtor, due to non-payment for travel services provided. Despite the Respondent's claims of a pre-existing dispute, the Tribunal found in favor of the Applicant, emphasizing the need for a genuine dispute to reject insolvency proceedings. An Interim Resolution Professional was appointed, and a moratorium was imposed on the Respondent, with instructions for necessary notifications to relevant parties. en-us Tue, 18 Aug 2020 00:00:00 +0530 Fri, 11 Dec 2020 12:33:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401571 The Tribunal admitted the application under section 9 of the Insolvency and Bankruptcy Code, 2016, for Corporate Insolvency Resolution Process. The Applicant, an Operational Creditor, sought initiation against the Respondent, a Corporate Debtor, due to non-payment for travel services provided. Despite the Respondent's claims of a pre-existing dispute, the Tribunal found in favor of the Applicant, emphasizing the need for a genuine dispute to reject insolvency proceedings. An Interim Resolution Professional was appointed, and a moratorium was imposed on the Respondent, with instructions for necessary notifications to relevant parties. Case-Laws Insolvency and Bankruptcy Tue, 18 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401571