https://www.taxtmi.com/caselaws?id=766627 A Section 9 insolvency application was held not maintainable where the record showed a pre-existing dispute between the parties. WhatsApp messages and related correspondence evidenced disagreement over delivery, market conditions, adjustment of losses, and handling of the contracted goods before the demand notice was issued. The dispute was found to be plausible and bona fide, and not spurious, illusory, or moonshine. On that basis, the insolvency process could not be used as a substitute for debt recovery, and the application was rejected. en-us Mon, 16 Dec 2024 00:00:00 +0530 Sat, 01 Mar 2025 08:25:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766627 A Section 9 insolvency application was held not maintainable where the record showed a pre-existing dispute between the parties. WhatsApp messages and related correspondence evidenced disagreement over delivery, market conditions, adjustment of losses, and handling of the contracted goods before the demand notice was issued. The dispute was found to be plausible and bona fide, and not spurious, illusory, or moonshine. On that basis, the insolvency process could not be used as a substitute for debt recovery, and the application was rejected. Case-Laws IBC Mon, 16 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766627