https://www.taxtmi.com/caselaws?id=421443 The Tribunal admitted the Operational Creditor's application for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to non-payment of an outstanding balance for supplied goods. Despite quality disputes raised by the Corporate Debtor, partial payment indicated a default in payment. The Tribunal found the Corporate Debtor's claims lacked substantial evidence, deeming the Operational Creditor's claim valid. Citing the "Mobilox Innovative Private Limited vs. Kirusa Software Private Limited" case, the Tribunal emphasized the need for genuine disputes to reject an application, ultimately imposing a moratorium on the Corporate Debtor and appointing an Insolvency Resolution Professional. en-us Mon, 11 Apr 2022 00:00:00 +0530 Mon, 25 Apr 2022 08:18:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421443 The Tribunal admitted the Operational Creditor's application for initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to non-payment of an outstanding balance for supplied goods. Despite quality disputes raised by the Corporate Debtor, partial payment indicated a default in payment. The Tribunal found the Corporate Debtor's claims lacked substantial evidence, deeming the Operational Creditor's claim valid. Citing the "Mobilox Innovative Private Limited vs. Kirusa Software Private Limited" case, the Tribunal emphasized the need for genuine disputes to reject an application, ultimately imposing a moratorium on the Corporate Debtor and appointing an Insolvency Resolution Professional. Case-Laws Insolvency and Bankruptcy Mon, 11 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421443