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of <h1>SC upholds operational creditor's claim under Section 9 of IBC, dismisses appeal against insolvency process</h1> <h3>NARESH SEVANTILAL SHAH & ANR. Versus MALHARSHANTI ENTERPRISES & ORS.</h3> NARESH SEVANTILAL SHAH & ANR. Versus MALHARSHANTI ENTERPRISES & ORS. - TMI The Supreme Court, with Chief Justice Sanjiv Khanna and Justice Sanjay Kumar presiding, dismissed the appeal concerning an attempt to 'set up a financial creditor.' The Court upheld the impugned judgment that recognized respondent Malharshanti Enterprises as an operational creditor under Section 9 of the Insolvency and Bankruptcy Code, 2016. This finding was affirmed by the adjudicating authority and the National Company Law Appellate Tribunal. The Court noted no grounds to interfere and accordingly 'dismissed the appeal,' with delay condoned and pending applications disposed of.
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