https://www.taxtmi.com/caselaws?id=394865 A section 9 Insolvency and Bankruptcy Code petition was found not maintainable where the contract vested interpretation and jurisdiction in Italy and parallel proceedings were already pending before the Tribunal of Vicenza. The dispute concerned payment adjustments, commission, and account reconciliation, making the controversy one for the agreed foreign forum rather than insolvency adjudication in India. The petition also failed because the claimed operational debt remained subject to reconciliation, set-off, and adjustment, with a pre-existing genuine dispute and no crystallised, undisputed default at the time of the demand notice. Insolvency proceedings could not be used to recover a disputed claim. en-us Tue, 21 Jan 2020 00:00:00 +0530 Tue, 28 Apr 2020 13:12:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394865 A section 9 Insolvency and Bankruptcy Code petition was found not maintainable where the contract vested interpretation and jurisdiction in Italy and parallel proceedings were already pending before the Tribunal of Vicenza. The dispute concerned payment adjustments, commission, and account reconciliation, making the controversy one for the agreed foreign forum rather than insolvency adjudication in India. The petition also failed because the claimed operational debt remained subject to reconciliation, set-off, and adjustment, with a pre-existing genuine dispute and no crystallised, undisputed default at the time of the demand notice. Insolvency proceedings could not be used to recover a disputed claim. Case-Laws Insolvency and Bankruptcy Tue, 21 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394865