NCLT Begins Insolvency Process, Dismisses Debtor's Late Dispute Claims as Illusory and Unsubstantiated.

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....CIRP - NCLT admitted the application - pre-existing dispute - disputes were not raised prior to the issuance of the Demand Notice - The fact remains that the spare parts were supplied way back on 25/10/2018 and the first issue was raised almost 11 months thereafter. There is nothing on record to establish that 11 months’ time is required to ascertain the efficiency of an engine - this Tribunal is of the considered opinion that the dispute raised by the Corporate Debtor is only illusionary and moonshine. - AT....