https://www.taxtmi.com/caselaws?id=394541 An operational creditor's section 9 insolvency application was held not maintainable because the record showed a pre-existing dispute over defective performance, non-submission of the performance guarantee, and alleged non-fulfilment of contractual obligations before the demand notice. That dispute could not be treated as sham or fabricated, and the claim also appeared to have arisen in 2014 while the petition was filed only in 2019, leaving limitation unexplained. The tribunal treated the forfeiture and defective execution controversy as unsuitable for summary insolvency adjudication and declined admission, leaving the parties to pursue contractual and other appropriate remedies. en-us Wed, 29 Jan 2020 00:00:00 +0530 Thu, 16 Apr 2020 11:48:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394541 An operational creditor's section 9 insolvency application was held not maintainable because the record showed a pre-existing dispute over defective performance, non-submission of the performance guarantee, and alleged non-fulfilment of contractual obligations before the demand notice. That dispute could not be treated as sham or fabricated, and the claim also appeared to have arisen in 2014 while the petition was filed only in 2019, leaving limitation unexplained. The tribunal treated the forfeiture and defective execution controversy as unsuitable for summary insolvency adjudication and declined admission, leaving the parties to pursue contractual and other appropriate remedies. Case-Laws Insolvency and Bankruptcy Wed, 29 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394541