Profit-Sharing Disputes Not Operational Debt Under IBC: NCLAT Delhi

Prashanth Shekara Shetty Vs Alcuris Healthcare Private Limited (NCLAT Delhi) National Company Law Appellate Tribunal (NCLAT), Delhi, has set aside the initiation of Corporate Insolvency Resolution Process (CIRP) against Alcuris Healthcare Pvt. Ltd. The case arose from a dispute between Alcuris Healthcare and ABMAY Health Ventures LLP, which had entered into a joint venture agreement for operating a cardiology unit. The National Company Law Tribunal (NCLT) Mumbai had earlier admitted a Section 9 application under the Insolvency and Bankruptcy Code (IBC) filed by Alcuris Healthcare, treating the...