https://www.taxtmi.com/caselaws?id=408597 A section 9 IBC application is not maintainable where a genuine pre-existing dispute existed before the demand notice, including disputes over quality of work, contractual non-completion, bill certification, and prior arbitration-related communications. The tribunal applied the principle that operational insolvency cannot be used as a mere recovery tool, and rejected the petition because the dispute was real rather than spurious, hypothetical, or illusory. The materials also did not show that the corporate debtor was insolvent, and instead indicated an active and compliant company. On that basis, the proceeding was treated as an attempt to convert a recovery claim into insolvency proceedings and was rejected. en-us Fri, 28 May 2021 00:00:00 +0530 Wed, 16 Jun 2021 10:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408597 A section 9 IBC application is not maintainable where a genuine pre-existing dispute existed before the demand notice, including disputes over quality of work, contractual non-completion, bill certification, and prior arbitration-related communications. The tribunal applied the principle that operational insolvency cannot be used as a mere recovery tool, and rejected the petition because the dispute was real rather than spurious, hypothetical, or illusory. The materials also did not show that the corporate debtor was insolvent, and instead indicated an active and compliant company. On that basis, the proceeding was treated as an attempt to convert a recovery claim into insolvency proceedings and was rejected. Case-Laws Insolvency and Bankruptcy Fri, 28 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408597