NCLAT Dismisses Senior Advocate's Plea Over Non-Payment Of Over ₹6 Crore In Fees By Company, Says Pre-Existing Dispute Bars Initiation Of CIRP

NCLAT has ruled that the existence of a pre-existing dispute bars the initiation of CIRP under Section 9 of the IBC. This decision clarifies the conditions for initiating CIRP. The tribunal's ruling emphasizes the importance of adhering to statutory provisions. This judgment provides clarity on IBC procedures. The ruling underscores the need for legal compliance.