https://www.taxtmi.com/caselaws?id=347140 A Section 9 insolvency application by operational creditors requires strict compliance with the statutory preconditions: a joint filing is not maintainable because the Code does not enable multiple operational creditors to proceed together, the certificate from a recognised financial institution under Section 9(3)(c) is mandatory, and a demand notice under Section 8 must be issued by the creditor or an authorised representative with the requisite connection to it. The record also disclosed a genuine pre-existing dispute, supported by earlier correspondence and a pending suit, which independently barred admission of the insolvency petition. The corporate insolvency process and all consequential directions were therefore set aside. en-us Fri, 28 Jul 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347140 A Section 9 insolvency application by operational creditors requires strict compliance with the statutory preconditions: a joint filing is not maintainable because the Code does not enable multiple operational creditors to proceed together, the certificate from a recognised financial institution under Section 9(3)(c) is mandatory, and a demand notice under Section 8 must be issued by the creditor or an authorised representative with the requisite connection to it. The record also disclosed a genuine pre-existing dispute, supported by earlier correspondence and a pending suit, which independently barred admission of the insolvency petition. The corporate insolvency process and all consequential directions were therefore set aside. Case-Laws Insolvency and Bankruptcy Fri, 28 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347140