Revival of proceedings u/s 9 of IBC Act for non-payment of TDS is unsustainable

Amitabh Roy Vs Master Development Management (India) Pvt. Ltd. (NCLAT Delhi) Held that in non-payment of the TDS amount by the Corporate Debtor there was no occasion for admitting Section 9 Application by the Adjudicating Authority. Facts- The Operational Creditor had filed a petition under Section 9 of the IBC, seeking initiation of Corporate Insolvency Resolution Process against the Corporate Debtor for payment of an amount of Rs. 9,48,997/-. After issuance of notice in the company petition, there were certain settlement talks between the parties. Both the counsel made statement before the A...