https://www.taxtmi.com/caselaws?id=299770 The National Company Law Tribunal, Mumbai Bench-IV, had jurisdiction to handle a Company Petition under section 9 of the Insolvency & Bankruptcy Code, 2016. The Corporate Debtor's failure to pay the Operational Creditor led to the initiation of Corporate Insolvency Resolution Process (CIRP) due to outstanding amounts. The Client Service Agreement, including a credit limit, was deemed valid, and the Corporate Debtor's argument of exceeding the credit limit was rejected. The Tribunal found the Corporate Debtor liable for the outstanding amounts, leading to the admission of the Petition and initiation of CIRP against the Corporate Debtor. en-us Tue, 22 Oct 2019 00:00:00 +0530 Wed, 29 Dec 2021 08:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299770 The National Company Law Tribunal, Mumbai Bench-IV, had jurisdiction to handle a Company Petition under section 9 of the Insolvency & Bankruptcy Code, 2016. The Corporate Debtor's failure to pay the Operational Creditor led to the initiation of Corporate Insolvency Resolution Process (CIRP) due to outstanding amounts. The Client Service Agreement, including a credit limit, was deemed valid, and the Corporate Debtor's argument of exceeding the credit limit was rejected. The Tribunal found the Corporate Debtor liable for the outstanding amounts, leading to the admission of the Petition and initiation of CIRP against the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Tue, 22 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299770