https://www.taxtmi.com/caselaws?id=292148 The court dismissed the Company Petition seeking Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for default in payment, totaling Rs. 23,66,923. The Petitioner's claim included interest charges at 24% per annum. The court considered the dishonored cheques, legal actions taken, and the pending civil suit for recovery. Relying on legal precedents, the court interpreted the pendency of the civil suit as a dispute under the Insolvency & Bankruptcy Code. As a result, the court dismissed the Petition without costs, as the dispute fell under Section 5(6) of the Code. en-us Mon, 04 Nov 2019 00:00:00 +0530 Tue, 08 Dec 2020 10:38:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292148 The court dismissed the Company Petition seeking Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for default in payment, totaling Rs. 23,66,923. The Petitioner's claim included interest charges at 24% per annum. The court considered the dishonored cheques, legal actions taken, and the pending civil suit for recovery. Relying on legal precedents, the court interpreted the pendency of the civil suit as a dispute under the Insolvency & Bankruptcy Code. As a result, the court dismissed the Petition without costs, as the dispute fell under Section 5(6) of the Code. Case-Laws Insolvency and Bankruptcy Mon, 04 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292148