CIRP application u/s 9 of IBC cannot be admitted in case of dispute between the promoters and dispute raised by the other shareholders in relation to affairs and management of the Corporate Debtor u/s 241 & 242 of the Companies Act, 2013 – Ashu Dutt Vs. Celadon Real Estate Advisors Pvt. Ltd. – NCLT Mumbai Bench
The Adjudicating Authority held that there are 7 Petitions filed u/s 241 & 242 of the companies Act, 2013, including one petition pertaining to Corporate Debtor numbered as TP/95(MB)2015, are pending since year 2015 and these petitions pertain to allegation of operation mismanagement made by wife of the Applicant against him. Even, if it is considered that the amount claimed is an operational debt, as claimed by the Applicant, there exist a prior dispute raised by the other shareholders in relation to affairs and management of the Corporate debtor by the Applicant himself. In view of this also, this Application u/s 9 of the Code deserves to be dismissed as not maintainable on the ground that this Application is motivated from the dispute between the promoters and does not seek resolution of the Corporate Debtor.