2023 (7) TMI 1186 - SCH - Insolvency and Bankruptcy

Maintainability of application for CIRP under IBC - pre-existing dispute - HELD THAT - It is in this backdrop that the proceedings under the Insolvency and Bankruptcy Code 2016 for initiating the Corporate Insolvency Process have not been entertained. There is no error in the concurrent findings of fact. Appeal dismissed.

Summary

The Supreme Court dismissed the appeal as there was a pre-existing dispute, making the application under the Insolvency and Bankruptcy Code 2016 inadmissible. The appellant can pursue other legal remedies, and pending applications are disposed of.