Section 9 application under IBC rejected on account of pre-existing dispute

Advertisement Union Roadways Limited Vs Ice Steel 1 Private Limited (NCLAT Delhi) NCLAT Delhi held that application under section 9 of the Insolvency and Bankruptcy Code [IBC] rightly rejected on account of pre-existing dispute between Operational Creditor and Corporate Debtor. Accordingly, order of Adjudicating Authority upheld. Facts- The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 04.09.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-V). By the impugned order, the Adjud...