NCLT JUDGEMENT ON RULE 6 OF THE INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016 AND SECTION 8, 8(1), 8(2), 9, 9(3)(B), 9(5)(II) (B), 9(5)(II)(D) OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016
Perigon Capital Vs. Gopaljee Dairy Foods Private Limited, (2020) 05 NCLT CK 0004 NCLT dismissed the application filed by the applicant under Section 9 of the IBC, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, praying therein to initiate CIRP against the Respondent/Corporate Debtor. While dismissing the application NCLT held that in the light of provision we shall consider the case in hand and we find, in view of Section 9(5)(ii)(d) of the Code. If the notice of dispute has been received by the Operational Creditor or there is a record of dispute in the information utility in that case the Adjudication Authority has no option but to reject the application. Since, there is existence of dispute which has been raised prior to the issuance of demand notice, therefore, the prayer of applicant is liable to be rejected. Accordingly, we hereby DISMISS the application.