https://www.taxtmi.com/caselaws?id=372603 A section 7 insolvency petition was held not maintainable because a real pre-existing dispute existed over the quantum of debt and related transactions. The corporate debtor disputed the creditor's computation, asserted that substantial payments had been made through connected entities, and relied on pending civil and recovery proceedings concerning the same property and allied dealings. Those materials showed the dispute arose before filing of the insolvency application, attracting the statutory bar to admission where debt is genuinely disputed. The petition was dismissed. en-us Tue, 30 Oct 2018 00:00:00 +0530 Wed, 26 Dec 2018 10:39:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372603 A section 7 insolvency petition was held not maintainable because a real pre-existing dispute existed over the quantum of debt and related transactions. The corporate debtor disputed the creditor's computation, asserted that substantial payments had been made through connected entities, and relied on pending civil and recovery proceedings concerning the same property and allied dealings. Those materials showed the dispute arose before filing of the insolvency application, attracting the statutory bar to admission where debt is genuinely disputed. The petition was dismissed. Case-Laws Companies Law Tue, 30 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372603