https://www.taxtmi.com/caselaws?id=427330 The Tribunal concluded that the amount paid by the Operational Creditor to the Corporate Debtor constituted an 'Operational Debt' for services provided under a joint venture development agreement. The Term Sheet dated 25th April, 2017 was deemed fabricated, and the Demand Notice under Section 8 was found to have been duly served. Consequently, the appeal was dismissed, affirming the Adjudicating Authority's order admitting the Section 9 Application under the Insolvency and Bankruptcy Code, 2016. en-us Fri, 02 Sep 2022 00:00:00 +0530 Wed, 07 Sep 2022 09:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427330 The Tribunal concluded that the amount paid by the Operational Creditor to the Corporate Debtor constituted an 'Operational Debt' for services provided under a joint venture development agreement. The Term Sheet dated 25th April, 2017 was deemed fabricated, and the Demand Notice under Section 8 was found to have been duly served. Consequently, the appeal was dismissed, affirming the Adjudicating Authority's order admitting the Section 9 Application under the Insolvency and Bankruptcy Code, 2016. Case-Laws Insolvency and Bankruptcy Fri, 02 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427330