https://www.taxtmi.com/caselaws?id=425723 A Section 9 Insolvency and Bankruptcy Code application is not maintainable where the record shows a genuine pre-existing dispute, including repeated correspondence about defects in work and unresolved rectification demands before payment. The Tribunal treated this dispute as sufficient to bar admission, noting that insolvency cannot be used as a recovery device for retention money. It also held that maintainability must be tested on the date of filing, so the enhanced default threshold under the 24 March 2020 notification applied; as the alleged default was below the revised one crore rupee limit, the application failed on that ground as well. en-us Tue, 19 Jul 2022 00:00:00 +0530 Sat, 30 Jul 2022 08:28:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425723 A Section 9 Insolvency and Bankruptcy Code application is not maintainable where the record shows a genuine pre-existing dispute, including repeated correspondence about defects in work and unresolved rectification demands before payment. The Tribunal treated this dispute as sufficient to bar admission, noting that insolvency cannot be used as a recovery device for retention money. It also held that maintainability must be tested on the date of filing, so the enhanced default threshold under the 24 March 2020 notification applied; as the alleged default was below the revised one crore rupee limit, the application failed on that ground as well. Case-Laws Insolvency and Bankruptcy Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425723