Exchange Of Debit Notes And Pending MSME Reference Indicate Plausible Pre-Existing Dispute: NCLT New Delhi

The NCLT Delhi addressed issues related to exchange debit notes in insolvency proceedings. It ruled that such notes cannot be used to justify claims if there is a pre-existing dispute regarding their validity. The tribunal emphasized that claims related to pre-existing disputes must be resolved separately before being considered in insolvency proceedings. This ruling reinforces the principle that only clear, uncontested claims should be processed in the context of insolvency resolution, ensuring fairness and accuracy in the adjudication process.