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CIRP to be admitted when corporate debtor didn’t pay even admitted part of claim against supply of medicines

June 26, 2020[2020] 117 272 (NCL-AT)

IBC: Offer of payment of a part of claim with a condition attached having effect of operational creditor relinquishing its claim in respect of balance amount payable in law cannot be envisaged as a payment in compliance to statutory notice under section 8(1)

IBC: Where corporate debtor did not pay even admitted part of claim of operational creditor on account of supply of medicine and default was in excess of Rs. one lakh, CIRP against corporate debtor to be admitted

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