https://www.taxtmi.com/caselaws?id=291484 An application under section 9 of the Insolvency and Bankruptcy Code was not maintainable where the underlying contract and dues were genuinely disputed and the agreement provided arbitration for dispute resolution. The Tribunal found unresolved issues on the nature of the liability, account adjustments, the relevant claim period, and whether amounts had already been reimbursed or set off. It also noted the delayed demand notice and held that the creditor had not shown an undisputed operational debt or default. Because a real pre-existing dispute existed, the essential precondition for admission of CIRP was not satisfied, and the petition failed. en-us Tue, 17 Dec 2019 00:00:00 +0530 Wed, 11 Nov 2020 20:02:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291484 An application under section 9 of the Insolvency and Bankruptcy Code was not maintainable where the underlying contract and dues were genuinely disputed and the agreement provided arbitration for dispute resolution. The Tribunal found unresolved issues on the nature of the liability, account adjustments, the relevant claim period, and whether amounts had already been reimbursed or set off. It also noted the delayed demand notice and held that the creditor had not shown an undisputed operational debt or default. Because a real pre-existing dispute existed, the essential precondition for admission of CIRP was not satisfied, and the petition failed. Case-Laws Insolvency and Bankruptcy Tue, 17 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291484