NCLT Admits Insolvency Plea After Finding No Pre-Existing Dispute Between Parties

R.J. Packwells Pvt. Ltd Vs Maurya Printers Pvt. Ltd (NCLT Delhi) The National Company Law Tribunal (NCLT), Delhi Bench, adjudicated an application filed by R.J. Packwells Pvt. Ltd. (“Applicant” or “Operational Creditor”) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), read with Rule 6 of the Adjudicating Authority Rules, seeking initiation of the Corporate Insolvency Resolution Process (“CIRP”) against Maurya Printers Pvt. Ltd. (“Respondent” or “Corporate Debtor”). The application was based on default in payment of ₹2,20,41,983, exclusive of 15% a...