https://www.taxtmi.com/caselaws?id=294039 The Adjudicating Authority dismissed the Corporate Insolvency Resolution Process (CIRP) initiation against the Corporate Debtor for defaulting on salary and bonus payments. The Authority emphasized exhausting alternative remedies before invoking the Insolvency and Bankruptcy Code, requiring undisputed debt and default for CIRP initiation. Considering the Respondent's solvency, the Authority directed amicable settlement and potential arbitration, preserving both parties' rights without costs. en-us Mon, 08 Jun 2020 00:00:00 +0530 Wed, 17 Mar 2021 09:09:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294039 The Adjudicating Authority dismissed the Corporate Insolvency Resolution Process (CIRP) initiation against the Corporate Debtor for defaulting on salary and bonus payments. The Authority emphasized exhausting alternative remedies before invoking the Insolvency and Bankruptcy Code, requiring undisputed debt and default for CIRP initiation. Considering the Respondent's solvency, the Authority directed amicable settlement and potential arbitration, preserving both parties' rights without costs. Case-Laws Insolvency and Bankruptcy Mon, 08 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294039