https://www.taxtmi.com/caselaws?id=351011 The Supreme Court analyzed an application under Section 9 of the Insolvency and Bankruptcy Code, where the Corporate Debtor contended the existence of a dispute with the Operational Creditor. Referring to the "Mobilox Innovations Private Ltd v. Kirusa Software Private Ltd" case, the Court emphasized the necessity of a pre-existing dispute before initiating insolvency proceedings. Finding a genuine dispute between the parties, the Court dismissed the application under Section 9, setting aside the appointment of an Interim Resolution Professional and allowing the Corporate Debtor to operate independently. The judgment underscored the importance of resolving disputes prior to commencing insolvency proceedings. en-us Fri, 06 Oct 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351011 The Supreme Court analyzed an application under Section 9 of the Insolvency and Bankruptcy Code, where the Corporate Debtor contended the existence of a dispute with the Operational Creditor. Referring to the "Mobilox Innovations Private Ltd v. Kirusa Software Private Ltd" case, the Court emphasized the necessity of a pre-existing dispute before initiating insolvency proceedings. Finding a genuine dispute between the parties, the Court dismissed the application under Section 9, setting aside the appointment of an Interim Resolution Professional and allowing the Corporate Debtor to operate independently. The judgment underscored the importance of resolving disputes prior to commencing insolvency proceedings. Case-Laws Insolvency and Bankruptcy Fri, 06 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351011