https://www.taxtmi.com/caselaws?id=390137 The Tribunal rejected the Petitioner's Company Petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for defaulting on payments. The Tribunal found a genuine dispute between the parties regarding breach of agreement existed prior to the demand notice, as evidenced by substantial proof. Relying on legal principles, the Tribunal concluded that acknowledgment of the notice of dispute by the Operational Creditor mandated rejection of the petition under section 9(5)(2)(d), emphasizing the necessity to differentiate between genuine disputes and spurious claims. No costs were awarded in this matter. en-us Mon, 16 Sep 2019 00:00:00 +0530 Fri, 20 Dec 2019 17:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390137 The Tribunal rejected the Petitioner's Company Petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for defaulting on payments. The Tribunal found a genuine dispute between the parties regarding breach of agreement existed prior to the demand notice, as evidenced by substantial proof. Relying on legal principles, the Tribunal concluded that acknowledgment of the notice of dispute by the Operational Creditor mandated rejection of the petition under section 9(5)(2)(d), emphasizing the necessity to differentiate between genuine disputes and spurious claims. No costs were awarded in this matter. Case-Laws Insolvency and Bankruptcy Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390137