NCLAT upholds dismissal of CIRP initiation against pre-existing disputes.

The National Company Law Appellate Tribunal (NCLAT) upheld the dismissal of an appeal by an Operational Creditor seeking to initiate the Corporate Insolvency Resolution Process (CIRP) under Section 9. The dismissal was based on a pre-existing dispute between the parties, as evidenced by an arbitration notice issued prior to the demand notice under Section 8. The tribunal found no novation of the original contract, leading to the appeal's rejection. .....

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