Overview
The word "Dispute" is significant for the
maintainability of every application filed under Section 9 of the
IB Code. It will be not wrong to say that the first acid test for
admission of an application under Section 9 is prima facie
"whether there is any dispute or otherwise."
It is apposite to refer to Section 9(5) of IB Code which reads
as below:
Section 9 (5) "The Adjudicating Authority shall, within
fourteen days of the receipt of the application under sub-section
(2), by an order—
(i) XXXX
(ii) Reject the application and communicate such decision to the
operational creditor and the corporate debtor, if—
(a) The application made under sub-section (2) is
incomplete;