Corporate LawsLaw Report
The NCLT admitted the insolvency plea, holding that post-petition mediation cannot constitute a pre-existing dispute under IBC.
The National Company Law Tribunal (NCLT), Guwahati Bench, has admitted an insolvency petition for the recovery of ₹3.96 crores of operational debt, ruling that a dispute which emerges after the institution of insolvency petition cannot be considered a pre-existing dispute as per the provisions of Insolvency and Bankruptcy Code, 2016 (IBC).
The operational creditor moved the Tribunal seeking recovery of ₹3,96,96,415…