https://www.taxtmi.com/caselaws?id=436755 A Section 9 insolvency petition under the Insolvency and Bankruptcy Code was rejected because the operational debt was found to be subject to a pre-existing dispute. The Tribunal treated the creditor's reference to the Micro, Small and Medium Enterprises Facilitation Council, together with the surrounding facts and invoice-based claim, as showing that the liability had already become a live controversy before the insolvency filing. It distinguished cases where a bare MSME reference, without supporting facts, would not by itself establish dispute. The rejection of the petition was therefore upheld. en-us Wed, 12 Apr 2023 00:00:00 +0530 Thu, 20 Apr 2023 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436755 A Section 9 insolvency petition under the Insolvency and Bankruptcy Code was rejected because the operational debt was found to be subject to a pre-existing dispute. The Tribunal treated the creditor's reference to the Micro, Small and Medium Enterprises Facilitation Council, together with the surrounding facts and invoice-based claim, as showing that the liability had already become a live controversy before the insolvency filing. It distinguished cases where a bare MSME reference, without supporting facts, would not by itself establish dispute. The rejection of the petition was therefore upheld. Case-Laws Insolvency and Bankruptcy Wed, 12 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436755