Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
The Adjudicating Authority rightly dismissed the Company Petition filed u/s 9 of the Insolvency and Bankruptcy Code (IBC) on the ground of pre-existing disputes between the Operational Creditor and the Corporate Debtor. The Respondent provided documentary evidence, including communications and police complaints, demonstrating ongoing disputes related to possession of leased premises and payment obligations under the lease agreement. The existence of a pre-existing dispute, regardless of merit, disqualifies an Operational Creditor from initiating the Corporate Insolvency Resolution Process (CIRP) u/s 9 of the IBC. The Appellant failed to demonstrate that the Adjudicating Authority erred in dismissing the Section 9 Petition. The Appeal was dismissed, with the Appellate Tribunal noting that the claim may also fail on grounds of not meeting the threshold of Rs. 1 crore u/s 4 of the IBC, discrepancies in claimed amounts, and allegations of fabrication of invoices.
The Adjudicating Authority rightly dismissed the Company Petition filed u/s 9 of the Insolvency and Bankruptcy Code (IBC) on the ground of pre-existing disputes between the Operational Creditor and the Corporate Debtor. The Respondent provided documentary evidence, including communications and police complaints, demonstrating ongoing disputes related to possession of leased premises and payment obligations under the lease agreement. The existence of a pre-existing dispute, regardless of merit, disqualifies an Operational Creditor from initiating the Corporate Insolvency Resolution Process (CIRP) u/s 9 of the IBC. The Appellant failed to demonstrate that the Adjudicating Authority erred in dismissing the Section 9 Petition. The Appeal was dismissed, with the Appellate Tribunal noting that the claim may also fail on grounds of not meeting the threshold of Rs. 1 crore u/s 4 of the IBC, discrepancies in claimed amounts, and allegations of fabrication of invoices.
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