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IBC - Highlights / Catch Notes

Home Highlights March 2023 Year 2023 This

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

Insolvency and Bankruptcy

March 14, 2023

Initiation of CIRP - existence of debt and dispute or not - In the present factual matrix, the defence raised by the Corporate Debtor cannot be held to be moonshine, spurious, hypothetical or illusory. For such disputed operational debt, Section 9 proceeding under IBC cannot be initiated at the instance of the Operational Creditor. - AT

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