https://www.taxtmi.com/caselaws?id=460557 NCLT Mumbai Bench-IV admitted an application under Section 9 of IBC 2016 for initiating CIRP against the corporate debtor. The operational creditor supplied steel materials but remained unpaid, with outstanding dues exceeding Rs. 1 crore. The corporate debtor appeared but did not contest the application. The tribunal found clear evidence of financial debt default and determined the application was properly filed in correct form. With no objections on record and default established, the CIRP initiation was approved. en-us Fri, 03 Feb 2023 00:00:00 +0530 Fri, 31 Jan 2025 18:55:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460557 NCLT Mumbai Bench-IV admitted an application under Section 9 of IBC 2016 for initiating CIRP against the corporate debtor. The operational creditor supplied steel materials but remained unpaid, with outstanding dues exceeding Rs. 1 crore. The corporate debtor appeared but did not contest the application. The tribunal found clear evidence of financial debt default and determined the application was properly filed in correct form. With no objections on record and default established, the CIRP initiation was approved. Case-Laws IBC Fri, 03 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460557