https://www.taxtmi.com/caselaws?id=419160 Operational debt under the Insolvency and Bankruptcy Code, 2016 must be shown by cogent evidence to arise from the provision of goods or services within Section 5(21). The invoices relied on had already been paid, and the alleged delayed payment charges and additional claims were unsupported by any agreement, invoice, or other documentary proof. Denied confirmatory letters, unilateral journal entries, and mere acknowledgements of liability were insufficient to establish a debt due and payable. Dishonoured cheques, by themselves, remained a matter under the Negotiable Instruments Act, 1881 and did not prove an operational debt for insolvency purposes. en-us Wed, 02 Mar 2022 00:00:00 +0530 Thu, 03 Mar 2022 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419160 Operational debt under the Insolvency and Bankruptcy Code, 2016 must be shown by cogent evidence to arise from the provision of goods or services within Section 5(21). The invoices relied on had already been paid, and the alleged delayed payment charges and additional claims were unsupported by any agreement, invoice, or other documentary proof. Denied confirmatory letters, unilateral journal entries, and mere acknowledgements of liability were insufficient to establish a debt due and payable. Dishonoured cheques, by themselves, remained a matter under the Negotiable Instruments Act, 1881 and did not prove an operational debt for insolvency purposes. Case-Laws Insolvency and Bankruptcy Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419160