https://www.taxtmi.com/caselaws?id=422394 The National Company Law Tribunal, Allahabad Bench, admitted the Operational Creditor's application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against the Corporate Debtor for initiating Corporate Insolvency Resolution Process. The Tribunal found the application compliant with IBC provisions, confirmed the default notice delivery, and appointed an IRP, declaring a moratorium. The Corporate Debtor's claims of payments to related entities were dismissed due to lack of evidence, and the Operational Creditor's evidence supported the outstanding dues claim, leading to the admission of the application for further resolution process. en-us Wed, 27 Apr 2022 00:00:00 +0530 Sat, 14 May 2022 08:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422394 The National Company Law Tribunal, Allahabad Bench, admitted the Operational Creditor's application under Section 9 of the Insolvency & Bankruptcy Code, 2016 against the Corporate Debtor for initiating Corporate Insolvency Resolution Process. The Tribunal found the application compliant with IBC provisions, confirmed the default notice delivery, and appointed an IRP, declaring a moratorium. The Corporate Debtor's claims of payments to related entities were dismissed due to lack of evidence, and the Operational Creditor's evidence supported the outstanding dues claim, leading to the admission of the application for further resolution process. Case-Laws Insolvency and Bankruptcy Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422394