https://www.taxtmi.com/caselaws?id=367797 SC applied the Mobilox standard to hold that an insolvency application under the IBC must be rejected where a genuine pre-existing dispute exists. A pending challenge to the arbitral award under Section 34, together with unresolved cross-claims, showed that the operational debt was not undisputed. The Court also held that the IBC cannot be used as a substitute for arbitral adjudication or enforcement, and Section 238 does not override the effect of a real dispute in this context. Insolvency proceedings based on the challenged award were therefore not maintainable. en-us Tue, 14 Aug 2018 00:00:00 +0530 Mon, 21 Jul 2025 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367797 SC applied the Mobilox standard to hold that an insolvency application under the IBC must be rejected where a genuine pre-existing dispute exists. A pending challenge to the arbitral award under Section 34, together with unresolved cross-claims, showed that the operational debt was not undisputed. The Court also held that the IBC cannot be used as a substitute for arbitral adjudication or enforcement, and Section 238 does not override the effect of a real dispute in this context. Insolvency proceedings based on the challenged award were therefore not maintainable. Case-Laws IBC Tue, 14 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367797