Case Law Details
Case Name : S.S. Engineers Vs Hindustan Petroleum Corporation Ltd. (Supreme Court of India)
Appeal Number : Civil Appeal No. 4583 of 2022
Date of Judgement/Order : 15/07/2022
Related Assessment Year :
Courts :
Supreme Court of India
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S.S. Engineers Vs Hindustan Petroleum Corporation Ltd. (Supreme Court of India)
Held that operational creditor can trigger CIRP process only in case of undisputed debt and default in payment thereof. However, if the debit is disputed, the application of the operational creditor for CIRP process cannot be admitted.
Facts-
The main question involved here is whether the Adjudicating Authority (NCLT) correctly admitted an application filed under section 9 of the Insolvency and Bankruptcy Code by the operational creditor for initiation of Corporate Insolvency Resolution Process.
Conclusion-
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