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Tribunal Initiates Corporate Insolvency Resolution Process Under IBC 2016 After Debtor's Late, Unfounded Dispute on Debt Repayment.

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....Initiation of CIRP - Corporate Debtor failed to make repayment of its debt - the belatedly raised dispute without establishing nexus and relevance cannot be termed as genuine dispute - this Tribunal is inclined to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor as envisaged under the provisions of IBC, 2016.....

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Tribunal Initiates Corporate Insolvency Resolution Process Under IBC 2016 After Debtor's Late, Unfounded Dispute on Debt Repayment.