Issuance of debit note or raising reconciliation issues at later stage doesn’t establish pre-existing dispute

Tremco CPG (India) Private Limited Vs Brite Proofings Private Limited (NCLT Mumbai) NCLT Mumbai held that mere issuance of debit notes or raising of reconciliation issues at a later stage does not establish a “pre-existing dispute” within the meaning of Section 8(2)(a) of the Code. Accordingly, application u/s. 9 of Insolvency and Bankruptcy Code admitted as debt and default proved. Facts- This Company Petition was filed on 03.12.2024 under Section 9 of the Insolvency and Bankruptcy Code, 2016 (‘IBC’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Autho...