Pre Existing Dispute Fails

The National Company Law Tribunal (NCLT), Mumbai Bench, has admitted a Section 9 application under the Insolvency and Bankruptcy Code (IBC), holding that routine commercial discussions regarding campaign performance do not constitute a genuine pre-existing dispute. 

The Tribunal observed that repeated acknowledgements of outstanding dues, continued issuance of purchase orders and assurances of repayment outweighed the Corporate Debtor's belated allegations of deficient services.