10-Feb-2023 07:32 PM
IL6: GEORGE VINCI THOMAS vs. CAPEDGE CONSULTING PVT. LTD. & ORS (NCLAT) Sir if the Corporate Debtor And Operational Creditor are the related person there is on going family dispute then also the application for CIRP can not be made as there is pre Existing Dispute between the parties???? Or otherwise an operational creditor can able to file application for CIRP????
As per provisions of IBC, 2016 “Dispute” includes a suit or arbitration proceedings relating to – (a) the existence of the amount of debt; (b) the quality of goods or service; or (c) the breach of a representation or warranty. Hence, family dispute can not be considered as dispute for the purpose of IBC. And operational creditor can file application for CIRP.
Answer given by Shubhamm Sir at 13-Feb-2023 05:29 PM