Application u/s. 9 of IBC, 2016 rejected due to pre-existing dispute

JHS Svendgaard Limited Vs HT Media Limited (NCLT Delhi) NCLT Delhi held that this Adjudicating Authority is not a dispute redressal forum. Accordingly, so long as a dispute truly exists in fact and is not spurious, hypothetical and illusory, the adjudicating authority has to reject the application u/s. 9 of the Insolvency and Bankruptcy Code, 2016 Facts- M/s. JHS Svendgaard Laboratories Limited (`Applicant/Operational Creditor’) has filed the present Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) read with Rule 6 of the Insolvency and Bankruptcy (Applica...