https://www.taxtmi.com/caselaws?id=346366 The Tribunal rejected the application for initiation of Corporate Insolvency process under Section 9 of the Insolvency and Bankruptcy Code, 2016. The dispute regarding the operational debt claimed by the operational creditor was not resolved as the corporate debtor raised counterclaims. The Tribunal emphasized that it does not have jurisdiction to adjudicate the merits of the claims and counterclaims, leading to the rejection of the application. The decision highlighted that the operational creditor's claim was not free from dispute, rendering the application under Section 9 of the Code not maintainable. en-us Fri, 14 Jul 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346366 The Tribunal rejected the application for initiation of Corporate Insolvency process under Section 9 of the Insolvency and Bankruptcy Code, 2016. The dispute regarding the operational debt claimed by the operational creditor was not resolved as the corporate debtor raised counterclaims. The Tribunal emphasized that it does not have jurisdiction to adjudicate the merits of the claims and counterclaims, leading to the rejection of the application. The decision highlighted that the operational creditor's claim was not free from dispute, rendering the application under Section 9 of the Code not maintainable. Case-Laws Insolvency and Bankruptcy Fri, 14 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346366