https://www.taxtmi.com/caselaws?id=365903 A section 9 IBC application is not maintainable where a pre-existing dispute on liability or quantum exists before the demand notice and petition. The record showed continuing contest over the amount payable, including prior proceedings in the executing court, High Court and Supreme Court, and the corporate debtor had already raised the dispute in response to the notice. Because the dispute was real and not spurious, hypothetical or illusory, the Adjudicating Authority must reject the insolvency application. The petition was therefore liable to be rejected against the operational creditor. en-us Mon, 16 Jul 2018 00:00:00 +0530 Sat, 25 Aug 2018 09:30:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365903 A section 9 IBC application is not maintainable where a pre-existing dispute on liability or quantum exists before the demand notice and petition. The record showed continuing contest over the amount payable, including prior proceedings in the executing court, High Court and Supreme Court, and the corporate debtor had already raised the dispute in response to the notice. Because the dispute was real and not spurious, hypothetical or illusory, the Adjudicating Authority must reject the insolvency application. The petition was therefore liable to be rejected against the operational creditor. Case-Laws Insolvency and Bankruptcy Mon, 16 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365903