Whether “advance” given by Company A to Company B for doing a particular job – said job is not done – no dispute on that; can the company which gave the advance go under IBC of OC/FC?

In the matter of Nupower Renewables Private Ltd. vs. Cape Infrastructure Private Ltd. (07.07.2017 – NCLT – Chennai) : MANU/NC/0983/2017: The Application has been filed by the Applicant u/s. 9 of the Insolvency and Bankruptcy Code, 2016 claiming the advance amount paid by the Applicant to the Respondent along with interest. Two main issues were discussed as follows: Whether the