2019 (12) TMI 1495

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..... hich is more than ₹ 1 Lakh and there is default in making payment. Such submission cannot be accepted as Authorisation Letter, even if, issued prior to the enactment of I B Code can be looked into for purpose of entertaining an application under Section 7 or 9 of the Code - Appeal dismissed. - Company Appeal (AT) (Insolvency) No. 1447 of 2019 - - - Dated:- 16-12-2019 - Justice S. J. M .....

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..... ver to the Operational Creditor once the credit limit of ₹ 1 Lakh was exhausted. Any amount in excess of the said sum of ₹ 1 Lakh, which was the credit limit in terms of the Client Services Agreement dated 14th July, 2016 was at the risk of the Operational Creditor and the Corporate Debtor cannot be held responsible for the same. 3. However, such submission cannot be accepted as it .....

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