https://www.taxtmi.com/highlights?id=85787 NCLAT dismissed appeal concerning operational creditor's Section 9 application under IBC. Court held that while Section 8 notice is mandatory prerequisite for filing Section 9 application, corporate debtor's failure to respond to Section 8 notice does not preclude them from contesting subsequent Section 9 proceedings. Operational creditor must deliver demand notice with invoice per Form 3, allowing corporate debtor 10 days to respond regarding disputes or prior payments. However, Section 8 and Section 9 serve distinct purposes - Section 8 establishes procedural requirement for operational creditor, while Section 9 provides corporate debtor full rights to defend against insolvency proceedings regardless of earlier response to Section 8 notice. Corporate debtor retains right to raise defenses during Section 9 proceedings despite non-reply to Section 8 notice. en-us Mon, 17 Feb 2025 08:48:33 +0530 Mon, 17 Feb 2025 08:48:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=85787 NCLAT dismissed appeal concerning operational creditor's Section 9 application under IBC. Court held that while Section 8 notice is mandatory prerequisite for filing Section 9 application, corporate debtor's failure to respond to Section 8 notice does not preclude them from contesting subsequent Section 9 proceedings. Operational creditor must deliver demand notice with invoice per Form 3, allowing corporate debtor 10 days to respond regarding disputes or prior payments. However, Section 8 and Section 9 serve distinct purposes - Section 8 establishes procedural requirement for operational creditor, while Section 9 provides corporate debtor full rights to defend against insolvency proceedings regardless of earlier response to Section 8 notice. Corporate debtor retains right to raise defenses during Section 9 proceedings despite non-reply to Section 8 notice. Highlights IBC Mon, 17 Feb 2025 08:48:33 +0530 https://www.taxtmi.com/highlights?id=85787