https://www.taxtmi.com/caselaws?id=419716 The Tribunal dismissed the application for initiation of CIRP under Section 9 of IBC 2016 due to the existence of a pre-existing dispute between the parties regarding the quality of supplied goods. Despite the operational creditor's efforts to recover outstanding dues and assertions of proper service of the demand notice, the Tribunal found in favor of the Corporate Debtor based on evidence presented, including email correspondence and a debit note highlighting ongoing disputes and quality issues. The decision emphasized the need to address the pre-existing dispute before proceeding with insolvency proceedings. en-us Thu, 10 Mar 2022 00:00:00 +0530 Sat, 19 Mar 2022 07:35:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419716 The Tribunal dismissed the application for initiation of CIRP under Section 9 of IBC 2016 due to the existence of a pre-existing dispute between the parties regarding the quality of supplied goods. Despite the operational creditor's efforts to recover outstanding dues and assertions of proper service of the demand notice, the Tribunal found in favor of the Corporate Debtor based on evidence presented, including email correspondence and a debit note highlighting ongoing disputes and quality issues. The decision emphasized the need to address the pre-existing dispute before proceeding with insolvency proceedings. Case-Laws Insolvency and Bankruptcy Thu, 10 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419716