https://www.taxtmi.com/caselaws?id=353182 A genuine pre-existing dispute over invoices raised by the operational creditor prevents invocation of the insolvency process under Section 9 of the Insolvency and Bankruptcy Code, 2016, because such a dispute goes to the root of maintainability. A regulatory order issued by SEBI does not, by itself, defeat the statutory remedy under the Code or operate as a standalone ground to reject the insolvency application. The practical effect is that the application failed on maintainability due to the prior dispute, even though the SEBI order could not independently bar initiation of the insolvency process. en-us Mon, 04 Dec 2017 00:00:00 +0530 Wed, 03 Jan 2018 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353182 A genuine pre-existing dispute over invoices raised by the operational creditor prevents invocation of the insolvency process under Section 9 of the Insolvency and Bankruptcy Code, 2016, because such a dispute goes to the root of maintainability. A regulatory order issued by SEBI does not, by itself, defeat the statutory remedy under the Code or operate as a standalone ground to reject the insolvency application. The practical effect is that the application failed on maintainability due to the prior dispute, even though the SEBI order could not independently bar initiation of the insolvency process. Case-Laws Insolvency and Bankruptcy Mon, 04 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353182