Standard of pre-existing dispute under IBC cannot be equated with principle of preponderance of probabilities: Supreme Court

The Bench reiterated that while determining whether there is a notice of dispute, the court need not be satisfied that the defence is likely to succeed.
Justice KM Joseph and Justice Hrishikesh Roy
Justice KM Joseph and Justice Hrishikesh Roy

The Supreme Court recently held that the standard to determine a pre-existing dispute under the Insolvency and Bankruptcy Code (IBC) could not be equated with the principle of preponderance of probabilities, which guides a civil court while finally decreeing a suit [Rajratan Babulal Agarwal v. Solartex India Pvt Ltd].

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