https://www.taxtmi.com/caselaws?id=408151 The Operational Creditor filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code against the Corporate Debtor for non-payment of dues. The Adjudicating Authority found the respondent's objections regarding goods quality/specifications to be invalid due to their failure to promptly return the goods. The respondent's non-compliance with purchase order terms and conditions was viewed as a defense for non-payment. With sufficient evidence of default provided by the Creditor and no dispute raised by the respondent, the petition was admitted, leading to the declaration of moratorium and appointment of an Interim Resolution Professional. en-us Fri, 26 Mar 2021 00:00:00 +0530 Wed, 02 Jun 2021 08:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408151 The Operational Creditor filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code against the Corporate Debtor for non-payment of dues. The Adjudicating Authority found the respondent's objections regarding goods quality/specifications to be invalid due to their failure to promptly return the goods. The respondent's non-compliance with purchase order terms and conditions was viewed as a defense for non-payment. With sufficient evidence of default provided by the Creditor and no dispute raised by the respondent, the petition was admitted, leading to the declaration of moratorium and appointment of an Interim Resolution Professional. Case-Laws Insolvency and Bankruptcy Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408151