https://www.taxtmi.com/caselaws?id=769810 SC held that demand notice served by operational creditor to corporate debtor's key managerial personnel at registered office constitutes valid service under Section 8 of IBC. The notice dated 31.03.2021 addressed to KMP and delivered to registered office was deemed proper service as it clearly demanded payment of operational debt from corporate debtor. Court noted that purpose of demand notice is to provide opportunity to repay or dispute debt, which was fulfilled. Issues regarding date of default and contract novation were remanded to NCLT for determination on merits. Appeal allowed, NCLAT orders set aside, matter remanded to NCLT for fresh consideration of Section 9 petition. en-us Tue, 29 Apr 2025 00:00:00 +0530 Fri, 02 May 2025 08:54:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769810 SC held that demand notice served by operational creditor to corporate debtor's key managerial personnel at registered office constitutes valid service under Section 8 of IBC. The notice dated 31.03.2021 addressed to KMP and delivered to registered office was deemed proper service as it clearly demanded payment of operational debt from corporate debtor. Court noted that purpose of demand notice is to provide opportunity to repay or dispute debt, which was fulfilled. Issues regarding date of default and contract novation were remanded to NCLT for determination on merits. Appeal allowed, NCLAT orders set aside, matter remanded to NCLT for fresh consideration of Section 9 petition. Case-Laws IBC Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769810