https://www.taxtmi.com/caselaws?id=754353 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 requires strict documentary proof of operational debt and default. Here, the operational creditor failed to produce authenticated invoices, ledger accounts, financial statements, or other reliable records to establish the debt, default, or any admitted liability linked to part-payment, so admission was not justified. The claim was also held to be time-barred because the invoices related to an earlier period, no acknowledgment within limitation was shown, and the alleged partial payment was insufficient on the facts proved. Corporate insolvency resolution process initiation was therefore declined. en-us Wed, 12 Jun 2024 00:00:00 +0530 Sat, 22 Jun 2024 08:35:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754353 An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 requires strict documentary proof of operational debt and default. Here, the operational creditor failed to produce authenticated invoices, ledger accounts, financial statements, or other reliable records to establish the debt, default, or any admitted liability linked to part-payment, so admission was not justified. The claim was also held to be time-barred because the invoices related to an earlier period, no acknowledgment within limitation was shown, and the alleged partial payment was insufficient on the facts proved. Corporate insolvency resolution process initiation was therefore declined. Case-Laws Insolvency and Bankruptcy Wed, 12 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754353