Pre-existing dispute bars insolvency admission; concurrent findings on the dispute were upheld and the challenge failed.

An insolvency application under the Insolvency and Bankruptcy Code, 2016 was found inadmissible because a pre-existing dispute between the parties had already been established. The concurrent factual findings on the existence of that dispute were upheld, and no error was found in those findings. As a result, the challenge to non-admission failed and the dismissal of the appeal was affirmed.

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Issues: Whether the insolvency application could be admitted in the presence of a pre-existing dispute between the parties.

Analysis: The concurrent findings recorded that a pre-existing dispute existed, on that basis the application under the Insolvency and Bankruptcy Code, 2016 was not admitted, and no error was found in those findings of fact.

Conclusion: The challenge to non-admission failed and the dismissal of the appeal was upheld.

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