Application u/s. 9 of IBC rejected due to pre-existing dispute arising out of contract termination

Morex Corporation Limited Vs Jindal Poly Films Ltd (NCLAT Delhi) NCLAT Delhi held that dismissal of section 9 application under the Insolvency and Bankruptcy Code upheld a case of pre-existing dispute arises out of termination of contract. Accordingly, appeal rejected and 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 14.12.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Allahabad Bench, Prayagraj). By the impugned order, the Adjudicating Aut...