https://www.taxtmi.com/caselaws?id=346332 A dispute raised only in reply to a demand notice, without pre-existing contractual substance, will be treated as illusory rather than a genuine dispute under Section 9 of the Insolvency and Bankruptcy Code. The text explains that objections on quality and interest, when inconsistent with the contract and unsupported by the agreed mechanism for price adjustment and the analyst's certificate, cannot bar admission of an operational creditor's application. Where operational debt, default, notice, reply, and supporting affidavit are otherwise established, the application is maintainable and the corporate insolvency resolution process may commence with moratorium under Section 14. en-us Fri, 16 Jun 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346332 A dispute raised only in reply to a demand notice, without pre-existing contractual substance, will be treated as illusory rather than a genuine dispute under Section 9 of the Insolvency and Bankruptcy Code. The text explains that objections on quality and interest, when inconsistent with the contract and unsupported by the agreed mechanism for price adjustment and the analyst's certificate, cannot bar admission of an operational creditor's application. Where operational debt, default, notice, reply, and supporting affidavit are otherwise established, the application is maintainable and the corporate insolvency resolution process may commence with moratorium under Section 14. Case-Laws Insolvency and Bankruptcy Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346332