Failure of reconciliation of accounts qualifies as pre-existing dispute: NCLAT Delhi

Rajendra Bisht Vs Satkar Logistics Pvt Ltd. (NCLAT Delhi)

NCLAT Delhi held that failure of reconciliation of accounts qualifies as pre-existing dispute. Thus, order admitting application u/s. 9 of Insolvency and Bankruptcy Code, 2016 ignoring pre-existing dispute is not justified. Hence, order is set aside.

Facts- This Appeal has been filed by the erstwhile promoter and director of M/s Ambassador Logistics Pvt. Ltd. (Corporate Debtor) assailing the order dated 11.02.2022 of Ld. NCLT, New Delhi, Court-III in C.P.(IB) No. 1924/ND/2019 whereby the Cor

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