https://www.taxtmi.com/caselaws?id=425827 A Section 9 IBC application is not maintainable where a genuine pre-existing dispute, supported by material on record, existed before issuance of the demand notice. Here, the corporate debtor showed that disputes over alleged deficiency in services, non-delivery, delay in drawings, and related counterclaims had already arisen before the demand notice, and the correspondence supported that position. Because the unpaid consultancy invoices related to claims already in dispute, the application could not be used as a debt recovery device. The insolvency petition was therefore rejected at the threshold and CIRP was not admitted. en-us Tue, 19 Jul 2022 00:00:00 +0530 Tue, 02 Aug 2022 09:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425827 A Section 9 IBC application is not maintainable where a genuine pre-existing dispute, supported by material on record, existed before issuance of the demand notice. Here, the corporate debtor showed that disputes over alleged deficiency in services, non-delivery, delay in drawings, and related counterclaims had already arisen before the demand notice, and the correspondence supported that position. Because the unpaid consultancy invoices related to claims already in dispute, the application could not be used as a debt recovery device. The insolvency petition was therefore rejected at the threshold and CIRP was not admitted. Case-Laws Insolvency and Bankruptcy Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425827