Rejection of application u/s. 9 of IBC justified due to pre-existing dispute: NCLAT Delhi

Law & Kenneth Saatchi & Saatchi Private Limited Vs Patanjali Paridhan Private Limited (NCLAT Delhi) NCLAT Delhi held that rejection of application u/s. 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) justified due to pre-existing dispute as relevant NOC was not provided by the operation creditor. Facts- The Appellant- Operational Creditor had undertaken to provide services for production of Television Commercial, print shoot and digital content for the Respondent -Patanjali Paridhan Private Limited under the terms of proforma invoice dated 17.10.2018. Notably, Operational Creditor ...