CIRP application rejected due to pre-existing dispute between parties: NCLT Mumbai

Ksheeraabd Constructions Private Limited Vs Reliance Infrastructure Limited (NCLT Mumbai)

NCLT Mumbai held that the object of the Insolvency and Bankruptcy Code, 2016 [IBC] is not to admit a Corporate Debtor [CD] into Corporate Insolvency Resolution Process [CIRP] when there is pre-existing dispute between the parties. Thus, application for CIRP rejected.

Facts- The present Company Petition was filed on 14.01.2019 u/s. 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority)

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