Can a Section 9 Application Survive a “Disputed” Status in NeSL? NCLAT Clarifies in Span Engineers v. Pragati Infra
Can an Operational Creditor maintain a Section 9 application under the Insolvency and Bankruptcy Code when the debt is recorded as “disputed” in NeSL and the Corporate Debtor asserts a pre-existing dispute? The National Company Law Appellate Tribunal (NCLAT), Principal Bench, rejected this view in the case of Span Engineers v. Pragati Infra and Engineering LLP1, affirming that the existence […]
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