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

Insolvency and Bankruptcy

January 19, 2023

Initiation of CIRP - existence of debt and dispute or not - Operational Creditors - NCLT admitted the application - The present is not a case where there is an undisputed debt for which insolvency can be initiated against the Corporate Debtor. The Adjudicating Authority having heard the matter ex-parte has failed to appreciate the facts of the case in its entirety and therefore committed an error in admitting the Section 9 application and we therefore hold that the impugned order passed is unsustainable. - AT

View Source

← Previous Next →

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

Insolvency and Bankruptcy

January 19, 2023

You may also like:

Corporate Insolvency Resolution Process - existence of eligible debt - Operational Creditor had provided security services to the Corporate Debtor and maintained a...

Corporate insolvency process - existence of operational debt - failure to make payment against procurement of paddy - the application deserves to be admitted. - Tri

Initiation of Corporate Insolvency Resolution Process - financial creditor - home buyers - failure to pay assured return /monthly rent - The applicants fall within the...

Initiation of CIRP - NCLT admitted the application - Operational Creditors - The tone and tenor of these protracted correspondences clearly manifest existence of dispute...

Initiation of CIRP - Demand Notice on unpaid Operational Debt - existence of dispute - When we look into the contents of allegations made in the Reply Notice, it is...

Initiation of CIRP - Operational Creditors - pre-existence of dispute - The NCLT, exercising powers under Section 7 or Section 9 of IBC, is not a debt collection forum....

Maintainability of application - initiation of CIRP - While a written contract cannot be treated as a pre-requisite to proving the existence of financial debt, the...

Initiation of CIRP - It is pertinent to note that on 09.07.2016, ‘prior to the issuance of the Demand Notice under Section 8 of the Code’, the ‘Operational Creditor’...

Initiation of CIRP - since the I&B Code is not a complete Code, provisions of Limitation Act are attracted to proceedings under it before NCLT and NCLAT as far as...

CIRP - Rejection of Section 9 Application on the ground of pre-existing dispute - The dispute stemmed from services provided by the Operational Creditor to the Corporate...

Quick Updates: