https://www.taxtmi.com/caselaws?id=393271 The National Company Law Tribunal, Cuttack dismissed the application by M/s IFGL Refractories Ltd. to initiate the Corporate Insolvency Resolution Process of M/s Agrawal Structure Mills (P) Ltd. The Tribunal ruled that as the Corporate Debtor had raised pre-existing disputes against the invoices submitted by the Operational Creditor, the conditions for initiating insolvency proceedings were not met. The Tribunal emphasized the need for an undisputed debt exceeding a specified amount and the absence of a dispute or pending legal proceedings related to the debt. The application was dismissed, allowing the petitioner to pursue other remedies for debt recovery. en-us Tue, 19 Nov 2019 00:00:00 +0530 Mon, 09 Mar 2020 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393271 The National Company Law Tribunal, Cuttack dismissed the application by M/s IFGL Refractories Ltd. to initiate the Corporate Insolvency Resolution Process of M/s Agrawal Structure Mills (P) Ltd. The Tribunal ruled that as the Corporate Debtor had raised pre-existing disputes against the invoices submitted by the Operational Creditor, the conditions for initiating insolvency proceedings were not met. The Tribunal emphasized the need for an undisputed debt exceeding a specified amount and the absence of a dispute or pending legal proceedings related to the debt. The application was dismissed, allowing the petitioner to pursue other remedies for debt recovery. Case-Laws Insolvency and Bankruptcy Tue, 19 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393271