https://www.taxtmi.com/caselaws?id=402411 The Tribunal dismissed the petition (C.P. (IB) No.169/BB/2020) for the initiation of Corporate Insolvency Resolution Process under IBC, 2016 due to lack of valid agreement or substantial evidence supporting the Operational Creditor's claim of default amounting to Rs. 3,50,00,000 against the Corporate Debtor. The Corporate Debtor's consistent denial, coupled with the Operational Creditor's failure to effectively counter objections and provide reliable evidence, led to the dismissal of the petition. The Tribunal stressed the importance of concrete evidence and valid agreements in insolvency proceedings. en-us Wed, 02 Sep 2020 00:00:00 +0530 Fri, 01 Jan 2021 10:18:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402411 The Tribunal dismissed the petition (C.P. (IB) No.169/BB/2020) for the initiation of Corporate Insolvency Resolution Process under IBC, 2016 due to lack of valid agreement or substantial evidence supporting the Operational Creditor's claim of default amounting to Rs. 3,50,00,000 against the Corporate Debtor. The Corporate Debtor's consistent denial, coupled with the Operational Creditor's failure to effectively counter objections and provide reliable evidence, led to the dismissal of the petition. The Tribunal stressed the importance of concrete evidence and valid agreements in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Wed, 02 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402411