https://www.taxtmi.com/caselaws?id=422544 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 failed because the operational creditor did not prove an unpaid operational debt or default on consistent, reliable records. Bank transactions and payment records showed receipts from the corporate debtor exceeding the principal invoices relied upon, while the creditor's adjustments were not reconciled with the documentary record. The claim also varied between invoices and e-mail correspondence, and the alleged balance remained unsubstantiated against the bank statement and invoice-wise adjustments. The Tribunal therefore found that the debt was not due and payable and dismissed the insolvency petition as not maintainable. en-us Wed, 27 Apr 2022 00:00:00 +0530 Wed, 18 May 2022 08:55:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422544 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 failed because the operational creditor did not prove an unpaid operational debt or default on consistent, reliable records. Bank transactions and payment records showed receipts from the corporate debtor exceeding the principal invoices relied upon, while the creditor's adjustments were not reconciled with the documentary record. The claim also varied between invoices and e-mail correspondence, and the alleged balance remained unsubstantiated against the bank statement and invoice-wise adjustments. The Tribunal therefore found that the debt was not due and payable and dismissed the insolvency petition as not maintainable. Case-Laws Insolvency and Bankruptcy Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422544