https://www.taxtmi.com/caselaws?id=421278 Operational debt under the Insolvency and Bankruptcy Code was found to arise from invoices evidencing purchase and sale of gold bars, with payments reflected in a running account rather than invoice-wise settlement. The balance confirmation dated 12.02.2019 was relied on to support the outstanding liability, and the record did not substantiate the claim that the amounts were only advances or that any pre-existing dispute existed. On that basis, default was treated as established and the admission under Section 9 was upheld; the appeal was dismissed. en-us Wed, 20 Apr 2022 00:00:00 +0530 Thu, 21 Apr 2022 08:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421278 Operational debt under the Insolvency and Bankruptcy Code was found to arise from invoices evidencing purchase and sale of gold bars, with payments reflected in a running account rather than invoice-wise settlement. The balance confirmation dated 12.02.2019 was relied on to support the outstanding liability, and the record did not substantiate the claim that the amounts were only advances or that any pre-existing dispute existed. On that basis, default was treated as established and the admission under Section 9 was upheld; the appeal was dismissed. Case-Laws Insolvency and Bankruptcy Wed, 20 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421278