https://www.taxtmi.com/caselaws?id=430082 The Tribunal recognized the advance payment of Rs. 60 lakhs as an Operational Debt under the Insolvency and Bankruptcy Code, overturning the Adjudicating Authority's decision. The Section 9 Application was remanded for fresh consideration, specifically addressing the limitation issue raised by the Corporate Debtor. The parties were given the opportunity to settle, with the Adjudicating Authority directed to expedite the decision within six months. en-us Thu, 10 Nov 2022 00:00:00 +0530 Fri, 11 Nov 2022 09:00:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430082 The Tribunal recognized the advance payment of Rs. 60 lakhs as an Operational Debt under the Insolvency and Bankruptcy Code, overturning the Adjudicating Authority's decision. The Section 9 Application was remanded for fresh consideration, specifically addressing the limitation issue raised by the Corporate Debtor. The parties were given the opportunity to settle, with the Adjudicating Authority directed to expedite the decision within six months. Case-Laws Insolvency and Bankruptcy Thu, 10 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430082