CIRP rightly initiated in absence of pre-existing dispute: NCLAT Delhi

Gulshan Kumar Ahuja Vs Monika Garg (NCLAT Delhi) NCLAT Delhi held that corporate debtor failed to demonstrate a pre-existing dispute at the time of filing an application u/s. 9 of IBC. Accordingly, concluded that application u/s. 9 of IBC duly admitted and CIRP rightly initiated. Facts- The Corporate Debtor was incorporated on 06/12/2010. Respondent No.1 and Corporate Debtor were involved in the business of trading and supplying cotton and manufacturing cotton yarn respectively. From 13/08/2018 to 16/09/2018, Respondent No.1 raised various purported invoices upon the Corporate Debtor in respec...