https://www.taxtmi.com/caselaws?id=429739 The Adjudicating Authority found that the Corporate Debtor had an operational debt due to the Operational Creditor, which was established as unpaid. Despite reminders and a demand notice, the Corporate Debtor failed to make further payments, leading to the admission of the debt. The debt exceeded Rs. 1 lakh, was undisputed, and the demand notice was effectively served. The Adjudicating Authority concluded that all conditions for initiating the Corporate Insolvency Resolution Process under Section 9 of the IBC were met, resulting in the dismissal of the appeal and admission of the application, triggering the CIRP without costs awarded. en-us Wed, 02 Nov 2022 00:00:00 +0530 Wed, 02 Nov 2022 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429739 The Adjudicating Authority found that the Corporate Debtor had an operational debt due to the Operational Creditor, which was established as unpaid. Despite reminders and a demand notice, the Corporate Debtor failed to make further payments, leading to the admission of the debt. The debt exceeded Rs. 1 lakh, was undisputed, and the demand notice was effectively served. The Adjudicating Authority concluded that all conditions for initiating the Corporate Insolvency Resolution Process under Section 9 of the IBC were met, resulting in the dismissal of the appeal and admission of the application, triggering the CIRP without costs awarded. Case-Laws Insolvency and Bankruptcy Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429739