CIRP Application Blocked Due to Pre-Existing Dispute in Ongoing Bombay High Court Litigation Over Foreign Decree Claim.

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Full Text of the Document

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....Admissibility of CIRP application - pre-existing dispute - Admittedly, Appellant is pursuing the litigation before the Bombay High Court in regard to the foreign decree and claim payable - adjudication is sought in regard to foreign decree obtained ex-parte falls within the purview of a pre-existing dispute placing an embargo on the powers of Adjudicating Authority to initiate CIRP at the instance of a Corporate Debtor....