https://www.taxtmi.com/caselaws?id=349826 The National Company Law Tribunal set aside the impugned order in a case where an Operational Creditor filed an application under section 9 of the Insolvency and Bankruptcy Code against a Corporate Debtor. The Tribunal found a violation of natural justice as no notice was issued before admitting the application. Additionally, a genuine dispute existed regarding the debt amount, with the Tribunal emphasizing the need for specific disputes related to debt, goods/services quality, or breach of representation. Consequently, the Tribunal dismissed the application, released the Debtor from constraints, and allowed independent functioning, with directions for fee payment to the Interim Resolution Professional if appointed. en-us Tue, 29 Aug 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349826 The National Company Law Tribunal set aside the impugned order in a case where an Operational Creditor filed an application under section 9 of the Insolvency and Bankruptcy Code against a Corporate Debtor. The Tribunal found a violation of natural justice as no notice was issued before admitting the application. Additionally, a genuine dispute existed regarding the debt amount, with the Tribunal emphasizing the need for specific disputes related to debt, goods/services quality, or breach of representation. Consequently, the Tribunal dismissed the application, released the Debtor from constraints, and allowed independent functioning, with directions for fee payment to the Interim Resolution Professional if appointed. Case-Laws Insolvency and Bankruptcy Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349826