INTERPRETATION OF 'DISPUTE' AND 'EXISTENCE OF DISPUTE' IN INSOLVENCY AND BANKRUPTCY CODE.
The Apex Court in "Mobilox Innovations Private Limited -versus- Kirusa Software Private Limited" (for short "Mobilox Case") vide its judgment dated 21.09.2017, has finally settled the widely debated issue of what constitutes “existence of a dispute" in the context of applications filed by operational creditors for initiation of corporate insolvency resolution process (for short "CIRP") of corporate debtors under the Insolvency and Bankruptcy Code, 2016 (for short "IBC").
