A ‘XYKno Capital Services Pvt. Ltd. Vs. Rattan India Power Ltd.

The disputes pertaining to contractual issues are not to be resolved in IBC Section 9 proceedings – a’XYKno Capital Services Pvt. Ltd. Vs. Rattan India Power Ltd. – NCLAT New Delhi

The Adjudicating Authority had come to the conclusion that there being pre-existing dispute application deserves rejection. The disputes pertaining to contractual issues are not to be resolved in Section 9 proceedings. Present is not a case where there is undisputed debt for which insolvency can be asked by the Appellant to be initiated. NCLAT held that we are of the view that no error has been committed by the Adjudicating Authority in rejecting Section 9 application, there being a pre-existing dispute. There is no merit in the Appeal. Appeal is dismissed.

The disputes pertaining to contractual issues are not to be resolved in IBC Section 9 proceedings – a’XYKno Capital Services Pvt. Ltd. Vs. Rattan India Power Ltd. – NCLAT New Delhi Read Post »

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