https://www.taxtmi.com/caselaws?id=296904 An application under section 9 of the Insolvency and Bankruptcy Code was found not maintainable because the operational debt was not shown to be clear and undisputed. The corporate debtor denied liability, produced bank statements showing part-payments, and disputed the invoices and the amount claimed; the alleged admission of liability was not supported by the cited email. Insolvency proceedings cannot be used as a debt recovery mechanism where a genuine dispute exists between the parties. The application was therefore rejected for want of an undisputed operational debt. en-us Fri, 19 Jun 2020 00:00:00 +0530 Wed, 11 Aug 2021 09:18:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296904 An application under section 9 of the Insolvency and Bankruptcy Code was found not maintainable because the operational debt was not shown to be clear and undisputed. The corporate debtor denied liability, produced bank statements showing part-payments, and disputed the invoices and the amount claimed; the alleged admission of liability was not supported by the cited email. Insolvency proceedings cannot be used as a debt recovery mechanism where a genuine dispute exists between the parties. The application was therefore rejected for want of an undisputed operational debt. Case-Laws Insolvency and Bankruptcy Fri, 19 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296904