https://www.taxtmi.com/caselaws?id=762065 NCLAT Principal Bench dismissed appeal challenging rejection of Section 9 application for initiating CIRP. Court found pre-existing dispute existed before demand notice issuance, evidenced by correspondence showing corporate debtor had put payments on hold due to inflated invoices concerns. Appellant had filed police complaint and initiated investigation through Ernst and Young regarding inflated invoices issued by staff under master service agreement. Court held that disputes regarding invoice payments existed much before demand notice dated 06.11.2023, justifying adjudicating authority's refusal to initiate CIRP proceedings. en-us Thu, 21 Nov 2024 00:00:00 +0530 Sat, 23 Nov 2024 08:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762065 NCLAT Principal Bench dismissed appeal challenging rejection of Section 9 application for initiating CIRP. Court found pre-existing dispute existed before demand notice issuance, evidenced by correspondence showing corporate debtor had put payments on hold due to inflated invoices concerns. Appellant had filed police complaint and initiated investigation through Ernst and Young regarding inflated invoices issued by staff under master service agreement. Court held that disputes regarding invoice payments existed much before demand notice dated 06.11.2023, justifying adjudicating authority's refusal to initiate CIRP proceedings. Case-Laws IBC Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762065