Liberty Footwear Co. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Liberty Shoes Limited, claiming default in payment of license fees under a Trade Mark Licence Agreement. The operational creditor alleged that Liberty Shoes Limited failed to pay the license fee as per the agreement, resulting in an outstanding amount along with interest. The corporate debtor contested the petition, arguing that there was a pre-existing dispute between the parties due to internal disputes among the partners of Liberty Footwear Co., and that the invoices were forged/fabricated. The corporate debtor also argued that the person who filed the petition on behalf of the operational creditor was

Liberty Footwear Co. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Liberty Shoes Limited, claiming default in payment of license fees under a Trade Mark Licence Agreement. The operational creditor alleged that Liberty Shoes Limited failed to pay the license fee as per the agreement, resulting in an outstanding amount along with interest. The corporate debtor contested the petition, arguing that there was a pre-existing dispute between the parties due to internal disputes among the partners of Liberty Footwear Co., and that the invoices were forged/fabricated. The corporate debtor also argued that the person who filed the petition on behalf of the operational creditor was