Application u/s. 9 of IBC rightly rejected due to pre-existing dispute

Innovators Cleantech Private Limited Vs Pasari Multi Projects Private Limited (NCLAT Delhi) NCLAT Delhi held that it is well settled proposition of law that for a pre-existing dispute to be a ground to nullify an application under Section 9 of the Insolvency and Bankruptcy Code. Accordingly, adjudicating authority rightly rejected application u/s. 9. Facts- The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 by the Appellant arises out of the Order dated 28.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Court-II). By th...