https://www.taxtmi.com/caselaws?id=301713 A Section 9 Insolvency and Bankruptcy Code application was not maintainable because the purchase orders on record were issued to a different entity, not the alleged corporate debtor. The materials also failed to show that goods were supplied or services were rendered to the corporate debtor, so the applicant did not establish an operational debt or qualify as an operational creditor under Sections 5(20) and 5(21). On that basis, the Section 9 proceeding could not be sustained, and the corporate insolvency resolution process was set aside. en-us Thu, 12 Dec 2019 00:00:00 +0530 Sun, 17 Apr 2022 19:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301713 A Section 9 Insolvency and Bankruptcy Code application was not maintainable because the purchase orders on record were issued to a different entity, not the alleged corporate debtor. The materials also failed to show that goods were supplied or services were rendered to the corporate debtor, so the applicant did not establish an operational debt or qualify as an operational creditor under Sections 5(20) and 5(21). On that basis, the Section 9 proceeding could not be sustained, and the corporate insolvency resolution process was set aside. Case-Laws Insolvency and Bankruptcy Thu, 12 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301713