Petition U/S 9 Of IBC Cannot Be Entertained Based On Fabricated Invoices Created To Pursue Revenge Litigation Against Corporate Debtor: NCLAT

NCLAT held that a petition under Section 9 of the IBC cannot be entertained based on fabricated invoices created to pursue revenge litigation against the corporate debtor. The appellate tribunal found that the invoices submitted as evidence of an operational debt appeared to be искусственно created with a malicious intent. The NCLAT emphasized that the insolvency process should not be used as a tool for settling personal scores or pursuing baseless claims, and it is crucial for applicants to present genuine and verifiable evidence of debt.