https://www.taxtmi.com/caselaws?id=399511 A section 9 IBC application was not maintainable because the operational debt was already subject to a genuine pre-existing dispute arising from a settlement arrangement, specific performance proceedings and earlier litigation between the parties. The Tribunal treated the correspondence, registered sale deeds, memorandum of understanding and pending civil proceedings as evidence that the debt claim was contested and not a mere afterthought. The claim also failed on limitation because the invoices were raised in 2013 and the application was filed in 2019, beyond the three-year period under Article 137 of the Limitation Act, with no sufficient basis shown to extend time. en-us Tue, 19 May 2020 00:00:00 +0530 Tue, 13 Oct 2020 12:37:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399511 A section 9 IBC application was not maintainable because the operational debt was already subject to a genuine pre-existing dispute arising from a settlement arrangement, specific performance proceedings and earlier litigation between the parties. The Tribunal treated the correspondence, registered sale deeds, memorandum of understanding and pending civil proceedings as evidence that the debt claim was contested and not a mere afterthought. The claim also failed on limitation because the invoices were raised in 2013 and the application was filed in 2019, beyond the three-year period under Article 137 of the Limitation Act, with no sufficient basis shown to extend time. Case-Laws Insolvency and Bankruptcy Tue, 19 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399511