Application u/s. 9 of IBC not rejectable as undisputed significant portion of debt is above threshold limit

Leena Salot Vs Ridham Synthetics Private Limited (NCLAT Delhi) NCLAT Delhi held that section 9 application under the Insolvency and Bankruptcy Code, 2016 cannot be rejected if undisputed portion of the debt is significantly above the minimum threshold limit of Rs. 1 Crore and the dispute pertains to a very relatively non-significant part of the claim. Facts- The Appellant/Operational Creditor submitted that a Petition u/s. 9 of the Code, was filed for initiation of the Corporate Insolvency Resolution Process (“CIRP”) against the Respondent, on account of the Respondent’s failure to pay t...