https://www.taxtmi.com/caselaws?id=384950 The Tribunal upheld the order admitting an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a Corporate Debtor, despite shareholders' contentions of a pre-existing dispute over goods supply. The Tribunal found no substantial dispute in the warranty communication cited and noted the shareholders' intent to settle with the Operational Creditor. Multiple claims totaling Rupees Six Crores and Thirty Lakhs were reported to the Tribunal by the Interim Resolution Professional, with the Committee of Creditors already in place. The Tribunal allowed the shareholders to settle with creditors before seeking relief under section 12A of the I&B Code. The appeal was disposed of without costs. en-us Tue, 07 May 2019 00:00:00 +0530 Tue, 27 Aug 2019 07:58:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384950 The Tribunal upheld the order admitting an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a Corporate Debtor, despite shareholders' contentions of a pre-existing dispute over goods supply. The Tribunal found no substantial dispute in the warranty communication cited and noted the shareholders' intent to settle with the Operational Creditor. Multiple claims totaling Rupees Six Crores and Thirty Lakhs were reported to the Tribunal by the Interim Resolution Professional, with the Committee of Creditors already in place. The Tribunal allowed the shareholders to settle with creditors before seeking relief under section 12A of the I&B Code. The appeal was disposed of without costs. Case-Laws Insolvency and Bankruptcy Tue, 07 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384950