https://www.taxtmi.com/highlights?id=90400 The NCLAT upheld the Adjudicating Authority's rejection of the Section 9 application filed by the Operational Creditor against the Corporate Debtor, finding a genuine pre-existing dispute. The first demand notice was withdrawn due to errors and the subsequent notice was treated as a fresh notice. Importantly, a civil suit filed prior to the second demand notice constituted a bona fide pre-existing dispute, communicated before the Section 8 notice. The Tribunal affirmed that the existence of such dispute bars the maintainability of a Section 9 application. The Adjudicating Authority correctly exercised its summary jurisdiction, refraining from detailed adjudication, and appropriately concluded that the dispute required resolution by a compet..... en-us Sat, 12 Jul 2025 08:40:59 +0530 Sat, 12 Jul 2025 08:41:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=90400 The NCLAT upheld the Adjudicating Authority's rejection of the Section 9 application filed by the Operational Creditor against the Corporate Debtor, finding a genuine pre-existing dispute. The first demand notice was withdrawn due to errors and the subsequent notice was treated as a fresh notice. Importantly, a civil suit filed prior to the second demand notice constituted a bona fide pre-existing dispute, communicated before the Section 8 notice. The Tribunal affirmed that the existence of such dispute bars the maintainability of a Section 9 application. The Adjudicating Authority correctly exercised its summary jurisdiction, refraining from detailed adjudication, and appropriately concluded that the dispute required resolution by a compet..... Highlights IBC Sat, 12 Jul 2025 08:40:59 +0530 https://www.taxtmi.com/highlights?id=90400