NCLT Admits Insolvency Plea as No Pre-Existing Dispute Found Before Demand Notice

Piyush Pharmachem (India) Private Limited Vs Shiva Dyestuff Private Limited (NCLT Ahmedabad) The present petition was filed on 03.12.2025 under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for default in payment of operational debt amounting to ₹5,86,08,827, comprising principal of ₹5,50,04,143 and contractual interest of ₹36,04,684 calculated at 18% per annum up to 23.06.2025. The Operational Creditor is engaged in the business of trading and supply of c...