Operational Creditors can only initiate CIRP against a Corporate Debtor in the Absence of  Real Disputes Existing Between Parties: NCLAT

The Delhi bench of the National Company Law Appellate Tribunal(NCLAT) has held that operational creditors can only initiate the Corporate Insolvency Resolution Process (CIRP) against a corporate debtor in the absence of real disputes existing between parties. Mr Satish Chinnadurai, the appellant challenged the Order dated 23.09.2022, passed by the Adjudicating Authority (National Company Law…