Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
IBC - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

Initiation of CIRP - NCLT admitted the application - Operational ...


NCLT Admits CIRP Application Despite Pre-Existing Disputes; Section 9 IBC Proceedings Questioned for Operational Debt.

May 6, 2023

Case Laws     Insolvency and Bankruptcy     AT

Initiation of CIRP - NCLT admitted the application - Operational Creditors - The tone and tenor of these protracted correspondences clearly manifest existence of dispute prior to the date of Section 8 demand notice on 16.09.2019 - these disputes were raised much before the issue of the issue of Demand Notice. For such disputed operational debt, Section 9 proceeding under IBC cannot be initiated at the instance of the Operational Creditor. - AT

View Source

 


 

You may also like:

  1. Initiation of CIRP - pre-existing dispute or not - NCLT rejected the application - NCLAT allowed the application admitting the additional evidences - the impugned order...

  2. Seeking release of the corporate debtor from the rigours of CIRP - NCLT closed the CIRP proceedings despite the stay order by NCLAT against withdrawal Order - The...

  3. Initiation of CIRP - NCLT admitted the application - Power of NCLT to refuse the application - Refusal of banks to extend the Bank Guarantees of the Corporate debtor - ,...

  4. The Corporate Debtor admitted outstanding operational debt owed to the Operational Creditor, citing adverse cash flow as the reason for non-payment, without attributing...

  5. Admissibility of application u/s 9 of IBC - pre-existing dispute - There are force in the contention of the Appellant that since they had never accepted any liability to...

  6. The NCLAT held that the corporate debtor failed to substantiate a pre-existing dispute with the operational creditor regarding the unpaid operational debt. The corporate...

  7. Refusal to stay the proceedings initiated by the Respondent, Axis Bank Limited against the Appellant - The title “Insolvency and Bankruptcy Code” makes it amply clear...

  8. Dismissal of section 9 application - Initiation of CIRP - pre-existing dispute - NCLAT held that, When there is no proof of completion or delivery of the services or...

  9. Corporate Debtor failed to repay operational debt of rent to Operational Creditor as per lease deed. Operational Creditor consistently pressed for outstanding dues...

  10. Initiation of CIRP - Period of limitation - It is now well settled that the provisions of the Limitation Act are applicable to proceedings under the IBC as far as may be...

  11. Initiation of CIRP - pre-existing dispute or not - NCLT admitted the application - the Appellant, in the written submissions filed before the Adjudicating Authority has...

  12. The Appellate Tribunal upheld the Adjudicating Authority's rejection of the Section 9 application filed by the Operational Creditor. The key points are: The Operational...

  13. NCLAT set aside the NCLT's order admitting the Corporate Debtor into CIRP. Though the application was filed within the limitation period (within three years of the last...

  14. NCLAT upheld dismissal of Section 9 IBC application concerning outstanding payment dispute between parties. WhatsApp communications evidenced pre-existing dispute...

  15. Jurisdiction of the Adjudicating Authority (NCLT) to adjudicate upon a closure notice issued prior to the initiation of the Corporate Insolvency Resolution Process...

 

Quick Updates:Latest Updates