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 August 2018 Year 2018 This

Once the applicant is not an ‘Operational Creditor’ and his ...


Petition u/s 9 of Insolvency Code Dismissed: Applicant Not an Operational Creditor, Dues Not Operational Debt.

August 29, 2018

Case Laws     Insolvency and Bankruptcy     Tri

Once the applicant is not an ‘Operational Creditor’ and his claimed dues not being ‘operational debt’, the present petition filed under section 9 of the Code for initiation of Corporate Insolvency Resolution Process is not maintainable.

View Source

 


 

You may also like:

  1. The Adjudicating Authority rightly dismissed the Company Petition filed u/s 9 of the Insolvency and Bankruptcy Code (IBC) on the ground of pre-existing disputes between...

  2. Pecuniary Jurisdiction - whether non-payment of TDS amount is debt or not - Present is a case where the Operational Creditor has misused the process of I&B Code in...

  3. Initiation of CIRP - It is clear from the provisions of Section 8 and 9 of the Code, that unlike under Section 7, a Notice under Section 8 is to be issued by an...

  4. Initiation of CIRP - the operational creditor is a sole proprietorship firm and would fall within the definition of a person. An Operational Creditor means a person to...

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

  6. The Appellate Tribunal dismissed the appeal filed by the Operational Creditor u/s 9 of the Insolvency and Bankruptcy Code, 2016. The application was initially rejected...

  7. Maintainability of an application for initiation of Corporate Insolvency Resolution Process (CIRP) u/s 9 of the Insolvency and Bankruptcy Code (IBC). The key points are:...

  8. 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...

  9. Initiation of CIRP - A combined reading of Sections 8 and 9 of the 'I&B Code' leaves no room for doubt that the payment of unpaid operational debt has to be unqualified...

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

  11. Section 53(1) of the Insolvency and Bankruptcy Code (IBC) provides for the order of priority in the distribution of liquidation assets. Financial debts owed to unsecured...

  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. 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...

  14. Initiation of CIRP - Operational Creditors - existence of debt and dispute or not - This petition has been filed to recover disputed debt, which is not the object of the...

  15. NCLAT dismissed appeal concerning operational creditor's Section 9 application under IBC. Court held that while Section 8 notice is mandatory prerequisite for filing...

 

Quick Updates:Latest Updates