https://www.taxtmi.com/caselaws?id=416935 The Tribunal rejected the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor successfully demonstrated the existence of pre-existing disputes with evidence predating the Demand Notice. Citing the Supreme Court's precedent, the Tribunal emphasized that a genuine contention, not a frivolous dispute, is sufficient to dismiss an application under Section 9. Consequently, the Corporate Debtor's claims were deemed valid, and the Operational Creditor was directed to seek alternative legal recourse. Subsequently, the related interim application seeking dismissal of the main application was also disposed of in line with the rejection of the primary petition. en-us Wed, 22 Dec 2021 00:00:00 +0530 Tue, 11 Jan 2022 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416935 The Tribunal rejected the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, as the Corporate Debtor successfully demonstrated the existence of pre-existing disputes with evidence predating the Demand Notice. Citing the Supreme Court's precedent, the Tribunal emphasized that a genuine contention, not a frivolous dispute, is sufficient to dismiss an application under Section 9. Consequently, the Corporate Debtor's claims were deemed valid, and the Operational Creditor was directed to seek alternative legal recourse. Subsequently, the related interim application seeking dismissal of the main application was also disposed of in line with the rejection of the primary petition. Case-Laws Insolvency and Bankruptcy Wed, 22 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416935