Corporate Debtor failed to demonstrate pre-existing dispute u/s 9 of IBC: NCLAT dismisses Appeal

The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal by a corporate debtor under Section 9 of the Insolvency and Bankruptcy Code (IBC), finding that the debtor failed to demonstrate a pre-existing dispute. The ruling reinforces the necessity for corporate debtors to provide clear evidence of disputes to avoid insolvency proceedings. This decision could impact how corporate debtors approach litigation under the IBC.