https://www.taxtmi.com/caselaws?id=425107 The Tribunal upheld the NCLT's decision to admit the petition for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to its failure to discharge the debt owed to the Operational Creditor. The Corporate Debtor's acknowledgment of the debt through emails and ledger statements, coupled with the absence of a qualified dispute, led to the dismissal of the appeal. The Tribunal found no material irregularity in the NCLT's order and affirmed the initiation of CIRP against the Corporate Debtor. en-us Wed, 13 Jul 2022 00:00:00 +0530 Sat, 16 Jul 2022 09:20:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425107 The Tribunal upheld the NCLT's decision to admit the petition for Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor due to its failure to discharge the debt owed to the Operational Creditor. The Corporate Debtor's acknowledgment of the debt through emails and ledger statements, coupled with the absence of a qualified dispute, led to the dismissal of the appeal. The Tribunal found no material irregularity in the NCLT's order and affirmed the initiation of CIRP against the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425107