https://www.taxtmi.com/caselaws?id=298729 The Tribunal rejected the Operational Creditor's application to initiate Corporate Insolvency Resolution Process against the Corporate Debtor due to the existence of a pre-existing dispute regarding quality and supply issues communicated before the Demand Notice. Despite procedural issues raised by the Corporate Debtor, the Tribunal primarily focused on the pre-existing dispute to dismiss the application. The Tribunal confirmed jurisdiction and the application's timely filing but emphasized that the Operational Creditor should pursue recovery through a civil suit instead. The application for CIRP initiation was ultimately rejected and disposed of accordingly. en-us Fri, 19 Feb 2021 00:00:00 +0530 Thu, 18 Nov 2021 06:46:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298729 The Tribunal rejected the Operational Creditor's application to initiate Corporate Insolvency Resolution Process against the Corporate Debtor due to the existence of a pre-existing dispute regarding quality and supply issues communicated before the Demand Notice. Despite procedural issues raised by the Corporate Debtor, the Tribunal primarily focused on the pre-existing dispute to dismiss the application. The Tribunal confirmed jurisdiction and the application's timely filing but emphasized that the Operational Creditor should pursue recovery through a civil suit instead. The application for CIRP initiation was ultimately rejected and disposed of accordingly. Case-Laws Insolvency and Bankruptcy Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298729