https://www.taxtmi.com/caselaws?id=300747 The tribunal dismissed the application for Corporate Insolvency Resolution Process (CIRP) filed by M/s. Mando Automotive India Private Limited against M/s. Chennai Clamptech Designer Private Limited under Section 9 of the Insolvency & Bankruptcy Code 2016. The Operational Creditor failed to qualify as an Operational Creditor under IBC, 2016 due to a mutual supply arrangement with the Corporate Debtor, which involved conversion of materials rather than a straightforward operational debt relationship. Additionally, essential documents were missing from the application, leading to its dismissal without costs. en-us Wed, 29 Sep 2021 00:00:00 +0530 Tue, 22 Feb 2022 20:32:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300747 The tribunal dismissed the application for Corporate Insolvency Resolution Process (CIRP) filed by M/s. Mando Automotive India Private Limited against M/s. Chennai Clamptech Designer Private Limited under Section 9 of the Insolvency & Bankruptcy Code 2016. The Operational Creditor failed to qualify as an Operational Creditor under IBC, 2016 due to a mutual supply arrangement with the Corporate Debtor, which involved conversion of materials rather than a straightforward operational debt relationship. Additionally, essential documents were missing from the application, leading to its dismissal without costs. Case-Laws Insolvency and Bankruptcy Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300747