The National Company Law Tribunal, Chennai Bench, comprising Shri Sanjiv Jain (Judicial Member) and Shri Sameer Kakar (Technical Member), while adjudicating an application under Section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Mr.V. Umadevi vs Kumarna Gin & Pressing Pvt. Limited has held that the payment of advance amount to receive the supply of goods...