Getting a fix on the term ‘dispute’ under the Insolvency and Bankruptcy Code

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Article by – Mr. Ramit Chitkara –  Deputy Manager, Corporate Legal & Regulatory at International Business Advisors


Excerpts from the Article – ” As per the provisions under IBC, on the occurrence of default on part of the corporate debtor, an operational creditor is required to serve a 10-day’s demand notice under Section 8 of IBC, to the corporate debtor, before initiating an application for insolvency resolution against the corporate debtor. Now, the corporate debtor must, either pay the dues or communicate the existence of a dispute over the debt within 10 days.”

“The application for initiating corporate insolvency resolution could sustain in case the dues under consideration are free from any sort of dispute(s). Here, the existence of dispute acts as one of the remedies to the corporate debtor; therefore, it is pertinent to analyze the meaning of the term dispute under the IBC.” To Read the full Article Click here


This Article has been published in Indian Retailer on November 7, 2017

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