2023 (10) TMI 1256 - SCH - Insolvency and Bankruptcy

Initiation of CIRP - NCLT admitted the application - Operational Creditors - serious pre-existing disputes between the Corporate Debtor and the Operational Creditor on account of discrepancies in invoices, and levy of bogus charges and overcharging - operational debt exceeds the threshold limit and is an undisputed debt or not - NCLAT held that There are no illegality in the impugned order of the Adjudicating Authority admitting the Section 9 application. HELD THAT - There are no reason to interfere with the order of the National Company Law Appellate Tribunal since no substantial question of law is involved in the appeal. The appeal is accordingly dismissed.

Summary

The Supreme Court condoned the delay in refiling the appeal and dismissed the appeal since no substantial question of law was involved. The order of the National Company Law Appellate Tribunal dated 4 May 2023 in Company Appeal (AT)(Insolvency) No 841 of 2022 was upheld.