NCLAT Dismisses Section 9 Plea as Pre-Existing Dispute Was Established

Manoj Stone Infra Pvt. Ltd. Vs Railsys Engineers Pvt. Ltd. (NCLAT Delhi) The appeal before the National Company Law Appellate Tribunal (NCLAT), Delhi arose from an order of the National Company Law Tribunal (NCLT), Mumbai, which had dismissed an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Operational Creditor challenged the dismissal of its application. The Tribunal also condoned an 8-day delay in refiling the appeal. The Operational Creditor submit...