Delay Doesn’t Prove Dispute: SC Clarifies Section 9 IBC Standard, Restores CIRP

Saraswati Wire and Cable Industries Vs Mohammad Moinuddin Khan and others (Supreme Court of India) Pre-existing Dispute Was Mere Moonshine: SC Restores NCLT Admission of Section 9 CIRP Against Corporate Debtor Supreme Court set aside the NCLAT order & restored the NCLT’s admission of Section 9 application against Dhanlaxmi Electricals Pvt Ltd. The firm supplied pipes & cables to the Corporate Debtor (CD), which maintained a running ledger. The CD’s own email dated 04.08.2021 confirmed the outstanding debit balance of ₹1.79 crore after adjusting payments of ₹70 lakh, thereby ack...