Absence Of Record In Information Utility Negates Claim Of Pre-Existing Dispute: NCLT Bengaluru

NCLT's Bengaluru bench held that the absence of a record of a pre-existing dispute in the information utility negates the claim of such a dispute under the IBC. The tribunal emphasized the importance of documenting disputes in the designated information utility as a means of establishing their existence prior to the initiation of insolvency proceedings. The lack of such a record weakens the argument that a genuine pre-existing dispute existed, which could potentially impact the admissibility of an application under Section 9 of the IBC.