https://www.taxtmi.com/caselaws?id=430899 A Section 9 IBC application was examined on two objections: related-party status and pre-existing dispute. The related-party objection under Section 5(24)(j) was rejected because the record did not show any legally disabling bar or sham transaction that would prevent the creditor from invoking insolvency proceedings. The alleged dispute over substandard goods was also held insufficient, as it surfaced only after the demand notice and the emails relied on concerned commercial matters rather than a genuine prior dispute. The arbitration clause and foreign arbitral reference did not, by themselves, defeat the Section 9 remedy. The dismissal of the insolvency application was therefore set aside and the matter was directed to proceed for admission in accordance with law. en-us Mon, 28 Nov 2022 00:00:00 +0530 Wed, 30 Nov 2022 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430899 A Section 9 IBC application was examined on two objections: related-party status and pre-existing dispute. The related-party objection under Section 5(24)(j) was rejected because the record did not show any legally disabling bar or sham transaction that would prevent the creditor from invoking insolvency proceedings. The alleged dispute over substandard goods was also held insufficient, as it surfaced only after the demand notice and the emails relied on concerned commercial matters rather than a genuine prior dispute. The arbitration clause and foreign arbitral reference did not, by themselves, defeat the Section 9 remedy. The dismissal of the insolvency application was therefore set aside and the matter was directed to proceed for admission in accordance with law. Case-Laws Insolvency and Bankruptcy Mon, 28 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430899