https://www.taxtmi.com/caselaws?id=467992 A Section 9 IBC application was found maintainable despite an objection on partnership registration and authorisation, because insolvency proceedings are not a suit and the record also showed registration material. Admission was nevertheless barred because correspondence and the demand notice reply disclosed a real pre-existing dispute over execution of work, invoices, tax issues, reconciliation, liquidated damages, and amounts payable, satisfying the settled test that the dispute must be genuine and not spurious. The petition was also treated as premature because no clear date of default was established, and the relevant invoices had not fully crystallised into a subsisting default at the time of demand notice. CIRP initiation was therefore declined. en-us Wed, 13 Dec 2023 00:00:00 +0530 Sat, 11 Apr 2026 11:11:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467992 A Section 9 IBC application was found maintainable despite an objection on partnership registration and authorisation, because insolvency proceedings are not a suit and the record also showed registration material. Admission was nevertheless barred because correspondence and the demand notice reply disclosed a real pre-existing dispute over execution of work, invoices, tax issues, reconciliation, liquidated damages, and amounts payable, satisfying the settled test that the dispute must be genuine and not spurious. The petition was also treated as premature because no clear date of default was established, and the relevant invoices had not fully crystallised into a subsisting default at the time of demand notice. CIRP initiation was therefore declined. Case-Laws IBC Wed, 13 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467992