https://www.taxtmi.com/caselaws?id=447942 NCLAT dismissed appeal challenging CIRP initiation under Section 9. Appellant contended pre-existing dispute regarding outstanding amount and work quality rendered by operational creditor should bar proceedings. NCLAT upheld Adjudicating Authority's finding that debt exceeded Rs. 1,00,000, was due and unpaid, constituting default in payment for services rendered. Court concluded no error in allowing CIRP proceedings despite claimed dispute, affirming that operational creditor met statutory requirements for insolvency initiation. en-us Thu, 04 Jan 2024 00:00:00 +0530 Tue, 09 Jan 2024 08:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447942 NCLAT dismissed appeal challenging CIRP initiation under Section 9. Appellant contended pre-existing dispute regarding outstanding amount and work quality rendered by operational creditor should bar proceedings. NCLAT upheld Adjudicating Authority's finding that debt exceeded Rs. 1,00,000, was due and unpaid, constituting default in payment for services rendered. Court concluded no error in allowing CIRP proceedings despite claimed dispute, affirming that operational creditor met statutory requirements for insolvency initiation. Case-Laws Insolvency and Bankruptcy Thu, 04 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447942