https://www.taxtmi.com/caselaws?id=398678 A Section 9 CIRP petition is maintainable only where operational debt is due and payable and no pre-existing dispute exists. Here, the corporate debtor had raised complaints about defective and inferior supplies before the demand notice, issued notices claiming damages, and pursued mediation, showing that the dispute over quality, compensation, and set-off was bona fide and not an afterthought. On that basis, the insolvency process could not be used as a recovery mechanism, and the petition was not maintainable for admission. en-us Fri, 19 Jun 2020 00:00:00 +0530 Tue, 22 Sep 2020 09:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398678 A Section 9 CIRP petition is maintainable only where operational debt is due and payable and no pre-existing dispute exists. Here, the corporate debtor had raised complaints about defective and inferior supplies before the demand notice, issued notices claiming damages, and pursued mediation, showing that the dispute over quality, compensation, and set-off was bona fide and not an afterthought. On that basis, the insolvency process could not be used as a recovery mechanism, and the petition was not maintainable for admission. Case-Laws Insolvency and Bankruptcy Fri, 19 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398678