https://www.taxtmi.com/caselaws?id=359329 An operational creditor's section 9 insolvency application was found maintainable where the debt arose from services under a contract, was supported by an arbitral award that had survived section 34 challenge, and the debtor failed to pay or issue a notice of dispute after service of the section 8 demand notice. The record satisfied the procedural requirements for admission, including the bank certificate and affidavit showing non-payment and absence of dispute. Pendency of a section 37 appeal against the award, filed after the demand notice, did not negate operational debt or amount to a pre-existing dispute under the Code, and the application was admitted for commencement of CIRP. en-us Tue, 20 Feb 2018 00:00:00 +0530 Thu, 26 Apr 2018 22:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359329 An operational creditor's section 9 insolvency application was found maintainable where the debt arose from services under a contract, was supported by an arbitral award that had survived section 34 challenge, and the debtor failed to pay or issue a notice of dispute after service of the section 8 demand notice. The record satisfied the procedural requirements for admission, including the bank certificate and affidavit showing non-payment and absence of dispute. Pendency of a section 37 appeal against the award, filed after the demand notice, did not negate operational debt or amount to a pre-existing dispute under the Code, and the application was admitted for commencement of CIRP. Case-Laws Insolvency and Bankruptcy Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359329