NCLAT upholds order rejecting Section 9 application due to pre-existing disputes

Indo Alusys Industries Limited Vs SMW Metal Private Limited (NCLAT Delhi) National Company Law Appellate Tribunal (NCLAT), Delhi Bench, has dismissed an appeal filed by Indo Alusys Industries Limited (the ‘Operational Creditor’ or ‘Appellant’) against SMW Metal Private Limited (the ‘Corporate Debtor’ or ‘Respondent’). The NCLAT’s decision, pronounced on a date not specified in the excerpt but upholding an NCLT order from February 12, 2019, affirms that pre-existing and genuinely contested disputes between parties preclude the initiation of ...