https://www.taxtmi.com/caselaws?id=353049 The Appellant, an Operational Creditor, sought the initiation of a Corporate Resolution Process under Section 9 of the Insolvency and Bankruptcy Code. The Adjudicating Authority dismissed the application due to the Operational Creditor initiating arbitration proceedings before issuing a Demand Notice. The Tribunal determined that arbitration proceedings commence upon receiving a request for dispute resolution, referencing legal precedents. The relevance of Section 5(6) of the Insolvency and Bankruptcy Code, defining "dispute," was emphasized in assessing ongoing arbitration's applicability. Despite debates on arbitration clauses, the Tribunal upheld the dismissal but allowed further action if arbitration clauses were absent. en-us Fri, 10 Nov 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353049 The Appellant, an Operational Creditor, sought the initiation of a Corporate Resolution Process under Section 9 of the Insolvency and Bankruptcy Code. The Adjudicating Authority dismissed the application due to the Operational Creditor initiating arbitration proceedings before issuing a Demand Notice. The Tribunal determined that arbitration proceedings commence upon receiving a request for dispute resolution, referencing legal precedents. The relevance of Section 5(6) of the Insolvency and Bankruptcy Code, defining "dispute," was emphasized in assessing ongoing arbitration's applicability. Despite debates on arbitration clauses, the Tribunal upheld the dismissal but allowed further action if arbitration clauses were absent. Case-Laws Insolvency and Bankruptcy Fri, 10 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353049