https://www.taxtmi.com/caselaws?id=303955 Documentary acknowledgments of supply, an arbitral award crystallising liability, and a later compromise settlement admitting the debt established operational debt and default for admission under section 9 of the Insolvency and Bankruptcy Code, 2016. The pending section 34 challenge did not, by itself, keep a live dispute alive where the settlement terms showed admitted liability and continued non-payment. The petition was treated as one for commencement of CIRP, not recovery of money, and the statutory requirements for admission under section 9(5) were satisfied. CIRP was therefore directed to be initiated against the corporate debtor. en-us Mon, 06 Jun 2022 00:00:00 +0530 Sat, 27 Aug 2022 08:15:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303955 Documentary acknowledgments of supply, an arbitral award crystallising liability, and a later compromise settlement admitting the debt established operational debt and default for admission under section 9 of the Insolvency and Bankruptcy Code, 2016. The pending section 34 challenge did not, by itself, keep a live dispute alive where the settlement terms showed admitted liability and continued non-payment. The petition was treated as one for commencement of CIRP, not recovery of money, and the statutory requirements for admission under section 9(5) were satisfied. CIRP was therefore directed to be initiated against the corporate debtor. Case-Laws Insolvency and Bankruptcy Mon, 06 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303955