https://www.taxtmi.com/highlights?id=62370 Initiation of CIRP - On reading the terms of the Joint Development Agreement, it is clear that in the project there are certain things to be done on the part of the petitioner herein - The revenue sharing concept which is the key to, this JVA makes it very clear that it cannot be turned as a service owed by the Respondent to the petitioner; both will have to sail together or sink, because of the JVA. - The dispute on balance / dues to be paid, should at best be termed as an ongoing business liability which should have been resolved between the parties in terms of the JVA. - Tri en-us Thu, 10 Mar 2022 12:17:36 +0530 Thu, 10 Mar 2022 12:17:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62370 Initiation of CIRP - On reading the terms of the Joint Development Agreement, it is clear that in the project there are certain things to be done on the part of the petitioner herein - The revenue sharing concept which is the key to, this JVA makes it very clear that it cannot be turned as a service owed by the Respondent to the petitioner; both will have to sail together or sink, because of the JVA. - The dispute on balance / dues to be paid, should at best be termed as an ongoing business liability which should have been resolved between the parties in terms of the JVA. - Tri Highlights Insolvency and Bankruptcy Thu, 10 Mar 2022 12:17:36 +0530 https://www.taxtmi.com/highlights?id=62370