https://www.taxtmi.com/caselaws?id=407665 The Adjudicating Authority dismissed the Company Petition CP/862/2018 under section 9 of the Insolvency and Bankruptcy Code, 2016, as the Operational Creditor failed to quantify the alleged debt of &8377; 18,73,732.83 conclusively and establish the date of default. The Corporate Debtor's contentions regarding payment delays and negotiations for proper pricing due to the perishable nature of goods were considered, leading to the rejection of the petition. The judgment underscores the necessity of clear documentation and precise quantification of claims in insolvency proceedings for establishing liability effectively. en-us Tue, 27 Apr 2021 00:00:00 +0530 Tue, 18 May 2021 08:30:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407665 The Adjudicating Authority dismissed the Company Petition CP/862/2018 under section 9 of the Insolvency and Bankruptcy Code, 2016, as the Operational Creditor failed to quantify the alleged debt of &8377; 18,73,732.83 conclusively and establish the date of default. The Corporate Debtor's contentions regarding payment delays and negotiations for proper pricing due to the perishable nature of goods were considered, leading to the rejection of the petition. The judgment underscores the necessity of clear documentation and precise quantification of claims in insolvency proceedings for establishing liability effectively. Case-Laws Insolvency and Bankruptcy Tue, 27 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407665