Admission of application u/s. 9 of IBC for default in payment of operational debt justified: NCLAT Delhi

Surendra Sancheti (Shareholder of Altius Digital Private Limited) Vs Gospell Digital Technologies Co. Limited (NCLAT Delhi) NCLAT Delhi held that admitting application under section 9 of the Insolvency and Bankruptcy Code 2016 for default in payment of operational debt justified in the absence of any credible or plausible pre-existing dispute. Facts- The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 19.12.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench-I). By the impugned order...