https://www.taxtmi.com/caselaws?id=442313 A Section 9 IBC petition could not be maintained where the pleaded default under a settlement agreement arose on 01.08.2020 and therefore fell within the Section 10A suspension period. The Tribunal held that the claim could not be recharacterised by reverting to earlier invoice dates because those transactions had merged into the settlement arrangement. It also treated the settlement agreement, power of attorney and related contracts as unenforceable due to stamp law non-compliance and invalid execution of the authority document executed outside India. Instalment default under such a settlement was not treated as operational debt for Section 9 purposes. en-us Mon, 28 Aug 2023 00:00:00 +0530 Tue, 29 Aug 2023 08:38:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442313 A Section 9 IBC petition could not be maintained where the pleaded default under a settlement agreement arose on 01.08.2020 and therefore fell within the Section 10A suspension period. The Tribunal held that the claim could not be recharacterised by reverting to earlier invoice dates because those transactions had merged into the settlement arrangement. It also treated the settlement agreement, power of attorney and related contracts as unenforceable due to stamp law non-compliance and invalid execution of the authority document executed outside India. Instalment default under such a settlement was not treated as operational debt for Section 9 purposes. Case-Laws Insolvency and Bankruptcy Mon, 28 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442313