Application is acceptable once all conditions prescribed u/s 9(5)(i) of IBC are satisfied

Ashimara Housing Private limited Vs Vibrus Homes Private Limited (NCLT Delhi)

Facts-  An amount of Rs. 32,43,000/- was paid as an advance to the Corporate Debtor by the Operational Creditor. This deposit is towards the advance licence fee. By filing this application, the Petitioner has claimed that since the amount was not refunded, therefore, there is a default in payment of the amount, which comes under the definition of the Operational Debt. Whereas the contention of the Corporate Debtor is that the amou

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