https://www.taxtmi.com/caselaws?id=399709 An operational creditor's section 9 application was held maintainable where the debtor's quality complaints did not amount to a genuine pre-existing dispute. The record showed acknowledgement of liability and a settlement proposal for an admitted amount, while default remained established and no effective settlement was reached. The application was also found complete and within limitation, satisfying the statutory requirements for initiation of insolvency proceedings. The objection based on pre-existing dispute was rejected, the petition was admitted, and CIRP was directed to commence with moratorium and appointment of an interim resolution professional. en-us Wed, 19 Feb 2020 00:00:00 +0530 Sat, 17 Oct 2020 12:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399709 An operational creditor's section 9 application was held maintainable where the debtor's quality complaints did not amount to a genuine pre-existing dispute. The record showed acknowledgement of liability and a settlement proposal for an admitted amount, while default remained established and no effective settlement was reached. The application was also found complete and within limitation, satisfying the statutory requirements for initiation of insolvency proceedings. The objection based on pre-existing dispute was rejected, the petition was admitted, and CIRP was directed to commence with moratorium and appointment of an interim resolution professional. Case-Laws Insolvency and Bankruptcy Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399709