https://www.taxtmi.com/caselaws?id=290918 An application under Section 9 of the Insolvency and Bankruptcy Code is maintainable only when an operational debt is due, payable, unpaid, and not subject to a genuine pre-existing dispute. The Tribunal noted that the respondent had disputed the claim and produced ledger entries and payment advice, showing the debt was not free from dispute. It reiterated that insolvency proceedings cannot be used as a substitute for debt recovery. On that basis, the petition was held not maintainable and was dismissed, leaving the petitioner to pursue other available remedies. en-us Fri, 03 Jan 2020 00:00:00 +0530 Thu, 22 Oct 2020 09:31:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290918 An application under Section 9 of the Insolvency and Bankruptcy Code is maintainable only when an operational debt is due, payable, unpaid, and not subject to a genuine pre-existing dispute. The Tribunal noted that the respondent had disputed the claim and produced ledger entries and payment advice, showing the debt was not free from dispute. It reiterated that insolvency proceedings cannot be used as a substitute for debt recovery. On that basis, the petition was held not maintainable and was dismissed, leaving the petitioner to pursue other available remedies. Case-Laws Insolvency and Bankruptcy Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290918