https://www.taxtmi.com/caselaws?id=416938 A Section 9 application under the Insolvency and Bankruptcy Code, 2016 was held not maintainable where the corporate debtor had raised a genuine pre-existing dispute before the demand notice. The record showed substantive objections over coal supply performance, quantity, vessel particulars, payment, and alleged breach, which demonstrated a real dispute rather than a spurious one. In summary insolvency proceedings, the Adjudicating Authority need only see whether a plausible pre-existing dispute exists and need not adjudicate contractual claims or damages in detail. Because the controversy required further investigation, insolvency proceedings could not be initiated. en-us Tue, 11 Jan 2022 00:00:00 +0530 Wed, 12 Jan 2022 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416938 A Section 9 application under the Insolvency and Bankruptcy Code, 2016 was held not maintainable where the corporate debtor had raised a genuine pre-existing dispute before the demand notice. The record showed substantive objections over coal supply performance, quantity, vessel particulars, payment, and alleged breach, which demonstrated a real dispute rather than a spurious one. In summary insolvency proceedings, the Adjudicating Authority need only see whether a plausible pre-existing dispute exists and need not adjudicate contractual claims or damages in detail. Because the controversy required further investigation, insolvency proceedings could not be initiated. Case-Laws Insolvency and Bankruptcy Tue, 11 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416938