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Insolvency and Bankruptcy Code
13-Dec-2023 (In Bankruptcy / Insolvency Law)
What if there is a false dispute raised before issuing demand notice under Insolvency?
Will it be considered a pre- existing dispute?
The fact whether something would be considered a dispute or not for the purposes of Section 9 of the IBC, 2016 or not is something which will have to be seen in the facts and circumstances of the case. However, false frivolous and mala fide disputes are not disputes with the meaning of the code.
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Adv. Tejasv Anand
Delhi | 100+ Answers
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Court can have a prima facie look over the dispute to determine its existence. However, NCLT does not have power under IBC to sit over and step into the shoes of a civil court for deciding the existence of a dispute. Hope this helps. Thanks.
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Adv. Abhinav Mishra
Delhi | 25+ Answers
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