Section 9 Application unjustified due to pre-existing dispute surrounding operational debt: NCLAT Delhi

Sandeep Behl Vs Nirmal Trading Company (NCLAT Delhi) NCLAT Delhi held that admission of application under section 9 of the Insolvency and Bankruptcy Code (IBC) for initiation of CIRP of Corporate Debtor untenable due to pre-existing dispute surrounding operational debt. Facts- The present appeal filed u/s. 61 of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 30.10.2023 passed by the Adjudicating Authority. By the impugned order, the Adjudicating Authority has admitted the Section 9 application filed by M/s Nirmal Trading Company-Operational Creditor and admi...