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Insolvency and BankruptcyApril 12, 2022Case LawsTri
Initiation of CIRP - existence of debt and pre-existing dispute or not - When no action is initiated in respect of the said mismanagement, projecting the mismanagement as the preexisting dispute, only when a demand is raised by the Operational Creditor, cannot be considered as a pre-existing dispute. When the amount due is not disputed and when it is not disputed that the goods under the invoices were delivered to the Corporate Debtor, the contention that they are lying idle on their site cannot be given weight. - Tri
Initiation of CIRP - existence of debt and pre-existing dispute or not - When no action is initiated in respect of the said mismanagement, projecting the mismanagement as the preexisting dispute, only when a demand is raised by the Operational Creditor, cannot be considered as a pre-existing dispute. When the amount due is not disputed and when it is not disputed that the goods under the invoices were delivered to the Corporate Debtor, the contention that they are lying idle on their site cannot be given weight. - Tri
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
