https://www.taxtmi.com/caselaws?id=193752 Section 9 insolvency cannot be initiated where the corporate debtor has raised a genuine dispute under section 8(2)(a) and challenge proceedings concerning the underlying debt are still pending. The text states that a reply disputing operational debt, together with pendency of proceedings challenging the arbitral award and an appeal under section 37 of the Arbitration and Conciliation Act, showed that the controversy had not attained finality. It further notes that dismissal of a section 34 petition does not by itself make the award conclusive while the section 37 appeal remedy remains available. On that basis, the section 9 application was held not maintainable and not fit for admission. en-us Fri, 24 Mar 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193752 Section 9 insolvency cannot be initiated where the corporate debtor has raised a genuine dispute under section 8(2)(a) and challenge proceedings concerning the underlying debt are still pending. The text states that a reply disputing operational debt, together with pendency of proceedings challenging the arbitral award and an appeal under section 37 of the Arbitration and Conciliation Act, showed that the controversy had not attained finality. It further notes that dismissal of a section 34 petition does not by itself make the award conclusive while the section 37 appeal remedy remains available. On that basis, the section 9 application was held not maintainable and not fit for admission. Case-Laws Insolvency and Bankruptcy Fri, 24 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193752