Initiation of CIRP - The Corporate Debtor is not to raise bogie ...
Insolvency and Bankruptcy
July 30, 2022
Initiation of CIRP - The Corporate Debtor is not to raise bogie of disputes but there has to be real substantial dispute. The existence of dispute when the Demand Notice was issued is mandatory condition for exercising jurisdiction to reject the Application by the Adjudicating Authority as is referred to in sub-section (5) of Section 9. The statute uses the expression 'existence of a dispute' - since, there exists a pre-existing dispute, the application is rejected - Tri
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