NCLT allows insolvency resolution process as debtor didn’t make payment for supply of goods and services

Where operational creditor filed petition under section 9 contending that corporate debtor did not make payment for supply of goods and labour services, since creditor supported its claim with work orders, invoices etc. whereas corporate debtor failed to substantiate its defence that some of goods had been returned, instant petition was to be admitted.

September 16th, 2017