Section 9 application under IBC rejected due to pre-existing dispute between parties

Korea Trade Insurance Corporation (Ksure) Vs Amrit Polychem Pvt. Ltd (NCLAT Delhi) NCLAT Delhi held that rejection of application under section 9 of the Insolvency and Bankruptcy Code justifiable because of pre-existing dispute between the parties. Accordingly, appeal dismissed as being devoid of merits. Facts- The present appeal filed under Section 61(1) of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 02.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-IV). By the impugned order, the Adjudicating Authority has dis...