https://www.taxtmi.com/caselaws?id=435158 The Supreme Court upheld the decision to dismiss the Section 9 application due to a pre-existing dispute between the parties. The Corporate Debtor had disputed the claim and raised various counterclaims against the Operational Creditor, totaling Rs.3,45,59,139. Despite the undisputed Distributorship Agreement, the Tribunal found that the dispute raised did not justify initiating Section 9 proceedings under the I&B Code. Consequently, the Adjudicating Authority's dismissal of the Section 9 application was affirmed, leading to the dismissal of the appeal. en-us Mon, 13 Mar 2023 00:00:00 +0530 Tue, 14 Mar 2023 08:58:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435158 The Supreme Court upheld the decision to dismiss the Section 9 application due to a pre-existing dispute between the parties. The Corporate Debtor had disputed the claim and raised various counterclaims against the Operational Creditor, totaling Rs.3,45,59,139. Despite the undisputed Distributorship Agreement, the Tribunal found that the dispute raised did not justify initiating Section 9 proceedings under the I&B Code. Consequently, the Adjudicating Authority's dismissal of the Section 9 application was affirmed, leading to the dismissal of the appeal. Case-Laws Insolvency and Bankruptcy Mon, 13 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435158