Section 8(2) in Insolvency And Bankruptcy Code, 2016
(2)The corporate debtor shall, within a period of ten days of the receipt of the demand notice or copy of the invoice mentioned in sub-section (1) bring to the notice of the operational creditor-(a)existence of a dispute, [if any, or] [Substituted 'if any, and' by Act No. 26 of 2018, dated 17.8.2018.] record of the pendency of the suit or arbitration proceedings filed before the receipt of such notice or invoice in relation to such dispute;(b)the [payment] [Substituted 'repayment' by Act No. 26 of 2018, dated 17.8.2018.] of unpaid operational debt-(i)by sending an attested copy of the record of electronic transfer of the unpaid amount from the bank account of the corporate debtor; or(ii)by sending an attested copy of record that the operational creditor has encashed a cheque issued by the corporate debtor.Explanation. - For the purposes of this section, a "demand notice" means a notice served by an operational creditor to the corporate debtor demanding [payment] [Substituted 'repayment' by Act No. 26 of 2018, dated 17.8.2018.] of the operational debt in respect of which the default has occurred.
