NCLT dismisses application u/s 9 filed by Managing Director of a Corporate Debtor for initiating CIRP against the Corporate Debtor – Anup Jhunjhunwal Vs. Adea Powerquips Pvt. Ltd. – NCLT Kolkata Bench
The Adjudicating Authority relied on the judgment of Hon’ble Supreme Court in the matter of Mobilox judgment and hedl that there has been a pre-existing dispute in the matter and therefore C.P (IB) No. 2058/KB/2029 is rejected. Needless to say that the Operational Creditor is at liberty to resort to other remedies that may be available to it under any other law.