https://www.taxtmi.com/caselaws?id=445939 NCLAT dismissed the appeal challenging initiation of CIRP against corporate debtor. The operational creditor had supplied tire cord fabric worth Rs. 10.18 crore during 2018-2019 through 44 invoices which remained unpaid. Corporate debtor failed to reply to demand notice served under section 8(1) and admitted the debt via email dated 03.06.2020, also providing a failed payment plan. NCLAT found no pre-existing dispute existed and corporate debtor failed to present its case despite opportunities. The adjudicating authority properly analyzed facts under the Code provisions before ordering CIRP initiation. en-us Fri, 17 Nov 2023 00:00:00 +0530 Thu, 23 Nov 2023 07:34:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445939 NCLAT dismissed the appeal challenging initiation of CIRP against corporate debtor. The operational creditor had supplied tire cord fabric worth Rs. 10.18 crore during 2018-2019 through 44 invoices which remained unpaid. Corporate debtor failed to reply to demand notice served under section 8(1) and admitted the debt via email dated 03.06.2020, also providing a failed payment plan. NCLAT found no pre-existing dispute existed and corporate debtor failed to present its case despite opportunities. The adjudicating authority properly analyzed facts under the Code provisions before ordering CIRP initiation. Case-Laws Insolvency and Bankruptcy Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445939