Initiation of CIRP - existence of debt of dispute or not - There ...

Insolvency and Bankruptcy

May 17, 2022

Initiation of CIRP - existence of debt of dispute or not - There is no claim regarding the principal amount and the issue of contention is demurrage and detention charges. The corporate debtor has averred that detention and demurrage charges does not fall under the definition of operational debt under Section 5(21) of the Code. It clearly reflects that a dispute was in existence prior to issuance of the statutory demand notice under Section 8 of the Code by the applicant. There is sufficient evidence to prove the existence of dispute. - Tri

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Initiation of CIRP - existence of debt of dispute or not - There ...

Insolvency and Bankruptcy

May 17, 2022

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