https://www.taxtmi.com/caselaws?id=392251 The NCLT, Cuttack dismissed the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by the Operational Creditor against the Corporate Debtor. The Tribunal found a genuine pre-existing dispute between the parties regarding the alleged operational debt. Consequently, the application for initiating the Corporate Insolvency Resolution Process was rejected, allowing the Operational Creditor to pursue alternative legal remedies. The order, CP(IB) No. 42/CTB/2019, was dismissed without costs, and the Registry was instructed to communicate the decision to both parties. en-us Tue, 19 Nov 2019 00:00:00 +0530 Thu, 07 Nov 2024 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392251 The NCLT, Cuttack dismissed the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by the Operational Creditor against the Corporate Debtor. The Tribunal found a genuine pre-existing dispute between the parties regarding the alleged operational debt. Consequently, the application for initiating the Corporate Insolvency Resolution Process was rejected, allowing the Operational Creditor to pursue alternative legal remedies. The order, CP(IB) No. 42/CTB/2019, was dismissed without costs, and the Registry was instructed to communicate the decision to both parties. Case-Laws IBC Tue, 19 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392251