NCLT Admits Insolvency Petition Because No Genuine Pre-Existing Dispute Was Established

One 97 Communication Limited Vs Fabzen Technologies Private Limited (NCLT Mumbai) The National Company Law Tribunal (NCLT), Mumbai, admitted an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by One 97 Communications Limited for initiation of the Corporate Insolvency Resolution Process (CIRP) against Fabzen Technologies Private Limited, holding that the Operational Creditor had established the existence of an operational debt, occurrence of default, and absence of any genuine pre-existing dispute. The Operational Creditor, engaged in digital advertising ser...