The Guwahati Bench of the National Company Law Tribunal (NCLT) held that a mere denial of liability cannot constitute a pre-existing dispute where the corporate debtor had earlier acknowledged the outstanding dues and assured payment through email.
Smartpaddle Technology Private Limited, the Operational Creditor, filed a Section 9 petition under the Insolvency andBankruptcy Code, 2016 against Atlanta Modular Private Limited, the Corporate Debtor. The petition sought initiation of CIRP over an outstanding operational debt of Rs. 17.16 crore as on 31.07.2024 with the date of default stated as 26.09.2023.
The Operational Creditor submitted that it had supplied products pursuant to Supply Agreements and various purchase…