Application filed u/s 9 of IBC not maintainable for claim on non-delivery of export due to Pre-existing dispute: NCLT [Read Order]

The NCLT viewed that the application filed under Section 9 is not maintainable due to being a disputed operational debt of the nature of the pre-existing dispute

By Yogitha S. Yogesh - On January 21, 2024 9:02 pm - 3 mins read

NCLAT - NCLAT Allahabad - Insolvency and Bankruptcy - Non delivery of export - Pre existing dispute - NCLAT ruling - TAXSCAN

The Allahabad bench of the National Company Law Tribunal ( NCLT ) has held that the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 ( IBC ) is not maintainable for claim on non-delivery of export. The applicant, M/s Morex Corporation Ltd. who is the Operational Creditor filed an Application to…

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