https://www.taxtmi.com/caselaws?id=766743 NCLAT Principal Bench set aside the Adjudicating Authority's order admitting a Section 9 application. The tribunal found no categorical admission of debt by the corporate debtor regarding freight and demurrage charges. Correspondence showed ongoing disputes about payment obligations, with the debtor requesting proper documentation per RBI guidelines and asserting payments were handled by a third party. The tribunal held that disputed operational debt cannot trigger insolvency proceedings under Section 9 IBC, as debt and default must be unequivocally established. The appeal was allowed. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sat, 07 Jun 2025 13:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766743 NCLAT Principal Bench set aside the Adjudicating Authority's order admitting a Section 9 application. The tribunal found no categorical admission of debt by the corporate debtor regarding freight and demurrage charges. Correspondence showed ongoing disputes about payment obligations, with the debtor requesting proper documentation per RBI guidelines and asserting payments were handled by a third party. The tribunal held that disputed operational debt cannot trigger insolvency proceedings under Section 9 IBC, as debt and default must be unequivocally established. The appeal was allowed. Case-Laws IBC Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766743