https://www.taxtmi.com/caselaws?id=297188 The court granted the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, allowing the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, "M/S. Karan Motors Private Limited." The Operational Creditor's claims of non-payment of salaries leading to financial hardships were upheld, despite the Corporate Debtor's counter-allegations of deliberate actions causing financial losses. The judgment emphasized the efforts made by the Operational Creditor to recover the outstanding amount through legal notices, ultimately leading to the court's decision in favor of initiating insolvency proceedings. en-us Tue, 18 Feb 2020 00:00:00 +0530 Sun, 22 Aug 2021 12:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297188 The court granted the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, allowing the initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, "M/S. Karan Motors Private Limited." The Operational Creditor's claims of non-payment of salaries leading to financial hardships were upheld, despite the Corporate Debtor's counter-allegations of deliberate actions causing financial losses. The judgment emphasized the efforts made by the Operational Creditor to recover the outstanding amount through legal notices, ultimately leading to the court's decision in favor of initiating insolvency proceedings. Case-Laws Insolvency and Bankruptcy Tue, 18 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297188