https://www.taxtmi.com/caselaws?id=798176 An arbitration clause does not displace the statutory insolvency remedy where the requirements of debt and default are met. A settlement claim arising from disputes over the supply of raw cotton remains operational debt, and the creditor need not have directly supplied goods or services to qualify as an operational creditor. An alleged contractual damages claim bars a Section 9 application only if it constitutes a genuine, pre-existing dispute supported by material. A belated and unpursued damages assertion raised in response to a demand notice does not meet that standard. Insolvency resolution therefore remains available for settled operational debt connected with the supply of goods. en-us Thu, 27 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798176 An arbitration clause does not displace the statutory insolvency remedy where the requirements of debt and default are met. A settlement claim arising from disputes over the supply of raw cotton remains operational debt, and the creditor need not have directly supplied goods or services to qualify as an operational creditor. An alleged contractual damages claim bars a Section 9 application only if it constitutes a genuine, pre-existing dispute supported by material. A belated and unpursued damages assertion raised in response to a demand notice does not meet that standard. Insolvency resolution therefore remains available for settled operational debt connected with the supply of goods. Case-Laws IBC Thu, 27 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798176