https://www.taxtmi.com/caselaws?id=461241 A real and pre-existing dispute over an arbitral award can bar admission of a Section 9 insolvency application where the dispute had already travelled through Section 34 and Section 37 proceedings and a restoration application had been moved with notice to the operational creditor before the demand notice. Dismissal of an appeal for default did not extinguish that dispute for Insolvency and Bankruptcy Code purposes, because restoration ordinarily revives the proceeding to its original status and the pendency of restoration kept the dispute alive. The Code cannot be used as a debt recovery tool for an operational debt that is not undisputed. CIRP under Section 9 was therefore barred. en-us Fri, 01 Oct 2021 00:00:00 +0530 Mon, 24 Mar 2025 19:42:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461241 A real and pre-existing dispute over an arbitral award can bar admission of a Section 9 insolvency application where the dispute had already travelled through Section 34 and Section 37 proceedings and a restoration application had been moved with notice to the operational creditor before the demand notice. Dismissal of an appeal for default did not extinguish that dispute for Insolvency and Bankruptcy Code purposes, because restoration ordinarily revives the proceeding to its original status and the pendency of restoration kept the dispute alive. The Code cannot be used as a debt recovery tool for an operational debt that is not undisputed. CIRP under Section 9 was therefore barred. Case-Laws IBC Fri, 01 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461241