https://www.taxtmi.com/caselaws?id=412236 A claim for payment under a share purchase arrangement was treated as outside operational debt because it did not arise from the supply of goods or services in the statutory sense, so the claimant was not an operational creditor on that basis. The materials also showed correspondence, prior proceedings and objections raised before the demand notice, which amounted to a real pre-existing dispute. Under the insolvency admission test, the adjudicating authority does not decide the merits of that dispute, and the existence of a genuine prior dispute barred admission of the insolvency application. en-us Fri, 06 Aug 2021 00:00:00 +0530 Tue, 14 Sep 2021 08:47:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412236 A claim for payment under a share purchase arrangement was treated as outside operational debt because it did not arise from the supply of goods or services in the statutory sense, so the claimant was not an operational creditor on that basis. The materials also showed correspondence, prior proceedings and objections raised before the demand notice, which amounted to a real pre-existing dispute. Under the insolvency admission test, the adjudicating authority does not decide the merits of that dispute, and the existence of a genuine prior dispute barred admission of the insolvency application. Case-Laws Insolvency and Bankruptcy Fri, 06 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412236