https://www.taxtmi.com/caselaws?id=404878 The Tribunal dismissed the petition under section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process against the corporate debtor. It held that the default in payment of instalments under the settlement agreement did not constitute operational debt as defined by the IBC. The Tribunal ruled that a breach of a settlement agreement does not qualify as a ground for initiating CIRP, leading to the rejection of the application. en-us Thu, 25 Jun 2020 00:00:00 +0530 Sat, 06 Mar 2021 09:45:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404878 The Tribunal dismissed the petition under section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of corporate insolvency resolution process against the corporate debtor. It held that the default in payment of instalments under the settlement agreement did not constitute operational debt as defined by the IBC. The Tribunal ruled that a breach of a settlement agreement does not qualify as a ground for initiating CIRP, leading to the rejection of the application. Case-Laws Insolvency and Bankruptcy Thu, 25 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404878