The NCLAT dismissed the appeal and upheld the Adjudicating ...

Outstanding debt admitted, pre-existing disputes unsubstantiated - CIRP initiated against corporate debtor.

December 3, 2024

Case Laws IBC AT

The NCLAT dismissed the appeal and upheld the Adjudicating Authority's order admitting the Operational Creditor's application for initiating CIRP against the Corporate Debtor. The key findings were: The Corporate Debtor admitted the outstanding operational debt exceeding the threshold limit through letters and emails. The alleged pre-existing disputes raised by the Corporate Debtor lacked credible evidence and appeared to be a moonshine defense. The Corporate Debtor failed to substantiate the claim of misappropriation of goods by the Operational Creditor. All conditions for initiating CIRP u/s 9 were fulfilled, and the Adjudicating Authority rightly admitted the application.

View Source

← Previous Next →

The NCLAT dismissed the appeal and upheld the Adjudicating ...

Outstanding debt admitted, pre-existing disputes unsubstantiated - CIRP initiated against corporate debtor.

December 3, 2024

Case Laws IBC AT

You may also like:

The Corporate Debtor admitted outstanding operational debt owed to the Operational Creditor, citing adverse cash flow as the reason for non-payment, without attributing...

The NCLAT held that the corporate debtor failed to substantiate a pre-existing dispute with the operational creditor regarding the unpaid operational debt. The corporate...

Corporate Debtor failed to repay operational debt of rent to Operational Creditor as per lease deed. Operational Creditor consistently pressed for outstanding dues...

Initiation of CIRP - existence of debt and pre-existing dispute or not - When no action is initiated in respect of the said mismanagement, projecting the mismanagement...

Initiation of CIRP - Corporate Debtor failed to make repayment of its debt - pre-existing dispute or not - each P.O./W.O. Constitutes separate contract having separate...

Rejection of Section 9 application - Initiation of CIRP - pre-existing dispute - The tribunal meticulously analyzed the arguments from both sides and relevant legal...

Rejection of Section 9 application - CIRP - cyber fraud committed against the Respondent - pre-existing disputes or not - While a cyber fraud occurred, the Tribunal...

The Appellate Tribunal upheld the Adjudicating Authority's rejection of the Section 9 application filed by the Operational Creditor. The key points are: The Operational...

The National Company Law Appellate Tribunal, New Delhi, addressed the admissibility of a section 9 application for initiation of Corporate Insolvency Resolution Process...

Initiation of CIRP - pre-existing dispute - the Adjudicating Authority has erred by not considering the various e-mails communication exchanged between the corporate...

Corporate Debtor failed to repay operational dues, leading to a Section 9 application by the Operational Creditor. However, pre-existing disputes were evident from the...

Admissibility of CIRP application - pre-existing dispute - Admittedly, Appellant is pursuing the litigation before the Bombay High Court in regard to the foreign decree...

Initiation of CIRP - existence of genuine pre-existing dispute - From the email of 29.04.2018, it is clear that the Corporate Debtor gave opportunities to the...

The case assesses the statutory construct of IBC regarding demand notices u/s 9. A dispute arose over payment to Respondent No. 2 by the Corporate Debtor, with a notice...

Initiation of CIRP - It is pertinent to note that on 09.07.2016, ‘prior to the issuance of the Demand Notice under Section 8 of the Code’, the ‘Operational Creditor’...

Quick Updates: