https://www.taxtmi.com/caselaws?id=410869 SC allowed appeal and quashed NCLAT order directing admission of Section 9 petition. Corporate debtor successfully raised genuine dispute regarding payment made to operational creditor. Court held that amount paid by one party to operational creditor was made on behalf of third party from funds received from that third party, not constituting debt owed by corporate debtor. NCLT correctly rejected CIRP application finding existence of dispute, while NCLAT erroneously reversed this decision. Dispute was neither spurious nor unsupported by evidence, meeting threshold for genuine dispute under IBC Section 9(5)(ii)(d). en-us Tue, 10 Aug 2021 00:00:00 +0530 Wed, 25 Jun 2025 11:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410869 SC allowed appeal and quashed NCLAT order directing admission of Section 9 petition. Corporate debtor successfully raised genuine dispute regarding payment made to operational creditor. Court held that amount paid by one party to operational creditor was made on behalf of third party from funds received from that third party, not constituting debt owed by corporate debtor. NCLT correctly rejected CIRP application finding existence of dispute, while NCLAT erroneously reversed this decision. Dispute was neither spurious nor unsupported by evidence, meeting threshold for genuine dispute under IBC Section 9(5)(ii)(d). Case-Laws IBC Tue, 10 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410869