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2017 (10) TMI 356 - Tri - Insolvency and BankruptcyInitiation of a resolution process against the Corporate Debtor, BHEL - Insolvency and Bankruptcy Code 2016 - Held that:- As there is an existing dispute with respect to the right to withhold, and also in respect of the liability to pay interest, the insolvency resolution process against the Corporate Debtor cannot be admitted. The petition is therefore Rejected. While the Operational Creditor's petition (IB)-269(ND)/2017 is disposed off as having been Rejected, the Bench officer shall register the Show Cause notice as separate proceedings and issue notices returnable on 20th September, 2017. Service on the Managing Director of the Social Media shall be effected at the email and address of the registered office of the Social Media to be provided by Operational Creditor as well as the Bench Officer.
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