{"id":253219,"date":"2021-08-25T16:00:20","date_gmt":"2021-08-25T10:30:20","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=253219"},"modified":"2021-09-10T11:52:18","modified_gmt":"2021-09-10T06:22:18","slug":"nclt-2","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/","title":{"rendered":"NCLT | \u2018The moment a pre-existing dispute is established, IBC disenthralls itself\u2019&#8211; Dismisses Application"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>National Company Law Tribunal, New Delhi:<\/strong> The Coram of Abni Ranjan Kumar Sinha, (Judicial Member) and L.N. Gupta (Technical Member) dismissed an application considering the pre-existing dispute and on failure to prove that the operational debt was undisputed.<\/p>\n<p style=\"text-align: justify;\">The instant matter was pertaining to an Application under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy Rules, 2016 by KK Continental Trade Ltd., to initiate Corporate Insolvency Resolution Process against Diamond Traexim Pvt. Ltd. (Corporate Debtor). The dispute was to release an outstanding balance amount of Rs. 6,29,45,000\/- pursuant to the High Seas Sale Agreement for the purchase of 2000 metric tons of Crude Palm Oil in bulk \u00a0The Corporate Debtor denied the debt amount so due and further disputed the amount claimed, stating the deteriorated quality of the supplied goods. The counsel for the corporate debtor further submitted that there has been a dispute prior to the service of demand notice, for which the application is not maintainable. And also that the Corporate Debt<\/p>\n<p style=\"text-align: justify;\">What was noted by the Tribunal was that the sole Arbitrator in the Arbitral Award concluded that,<\/p>\n<p style=\"text-align: justify;\"><em>\u201cthe claim of the Claimant is premature and can be filed only after the complaint\/claim of Rs. 9,06,00,00\/- of the Respondent is addressed to by the supplier of the Oil to the Claimant. Accordingly, the Claim is dismissed. The counter Claim of the Respondent also deserves to be dismissed\u201d.<\/em><\/p>\n<p style=\"text-align: justify;\">The Tribunal considered the fact that the applicant itself had initiated the Arbitration Proceeding to resolve the dispute relating to its claim, which resulted in dismissal of the claim being pre-mature. It, therefore, concluded that,<\/p>\n<p style=\"text-align: justify;\"><em>\u201cthe material on record sufficiently indicates that there has been a pre-existing dispute between the parties prior to issuance of demand notice. Therefore, there being a pre-existing dispute and a situation in which the Applicant itself has referred the dispute to the Arbitration proceeding, which resulted in dismissal of the claim of the Applicant being pre-mature, the applicant has failed to prove that its operational debt is undisputed. In terms of Section 9(5) (ii) (d) of the IBC, the moment it is established that there is a pre-existing dispute, the Corporate Debtor gets out of the clutches of the IBC\u201d.<\/em><\/p>\n<p style=\"text-align: justify;\">[KK Continental v. Diamond Traexim Pvt. Ltd., <a href=\"http:\/\/www.scconline.com\/DocumentLink\/Ycs2S2IT\"><b>2021 SCC OnLine NCLT 350<\/b><\/a>, decided on 16-08-2021]<\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><span style=\"color: #003300;\">Agatha Shukla, Editorial Assistant has reported this brief.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><strong>Counsel for the Parties:<\/strong><\/p>\n<p style=\"text-align: justify;\">For the Operational Creditor: CS Chauhan, Advocate<\/p>\n<p style=\"text-align: justify;\">For the Corporate Debtor: Mr Abhishek Kumar Dwivedi, Advocate<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Company Law Tribunal, New Delhi: The Coram of Abni Ranjan Kumar Sinha, (Judicial Member) and L.N. Gupta (Technical Member) dismissed an <\/p>\n","protected":false},"author":67011,"featured_media":162604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[30361,29785,12521,33073],"class_list":["post-253219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-ibc","tag-law","tag-nclt","tag-pre-existing-dispute"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NCLT | \u2018The moment a pre-existing dispute is established, IBC disenthralls itself\u2019-- Dismisses Application | SCC Times<\/title>\n<meta name=\"description\" content=\"NCLT\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCLT | \u2018The moment a pre-existing dispute is established, IBC disenthralls itself\u2019-- Dismisses Application\" \/>\n<meta property=\"og:description\" content=\"NCLT\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-25T10:30:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-10T06:22:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/\",\"name\":\"NCLT | \u2018The moment a pre-existing dispute is established, IBC disenthralls itself\u2019-- Dismisses Application | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\",\"datePublished\":\"2021-08-25T10:30:20+00:00\",\"dateModified\":\"2021-09-10T06:22:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/84e42bab48238baf12c7e33b3d9761fe\"},\"description\":\"NCLT\",\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg\",\"width\":1330,\"height\":887,\"caption\":\"National Company Law Tribunal\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/25\/nclt-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NCLT | \u2018The moment a pre-existing dispute is established, IBC disenthralls itself\u2019&#8211; 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Mukhopadhaya (Chairperson) and A.I.S Cheema, Member (Technical) and Kanthi Narahari, Member (Technical) declared an appeal filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 not maintainable in view of the pre-existing dispute. In the present\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":304677,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/10\/13\/default-occurred-when-post-dated-cheques-bounced-nclt-directs-to-initiate-insolvency-process-scc-blog\/","url_meta":{"origin":253219,"position":2},"title":"Default occurred when post-dated cheques bounced; NCLT directs to initiate insolvency process","author":"Ritu","date":"October 13, 2023","format":false,"excerpt":"NCLT held that the Corporate Debtor failed to prove a pre-existing dispute to justify the rejection of the Section 9 application.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"nclt","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":296119,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/06\/nclat-application-s-9-ibc-for-implementation-of-arbitral-award-not-maintainable\/","url_meta":{"origin":253219,"position":3},"title":"\u2018Arbitration Proceedings\u2019 and \u2018IBC Proceedings\u2019 cannot go on together; NCLAT upholds NCLT&#8217;s order rejecting Section 9 application","author":"Ritu","date":"July 6, 2023","format":false,"excerpt":"NCLAT held that an application preferred under Section 9 of the IBC for implementation of an Arbitral Award is not maintainable.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"national company law appellate tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":304850,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/10\/15\/default-occurred-when-post-dated-cheques-bounced-nclt-directs-to-initiate-insolvency-process-scc-blog-2\/","url_meta":{"origin":253219,"position":4},"title":"NCLT orders initiation of Insolvency Process due to default in payment and bounced Post-Dated Cheques","author":"Ritu","date":"October 15, 2023","format":false,"excerpt":"NCLT held that the Corporate Debtor failed to prove a pre-existing dispute to justify the rejection of the Section 9 application.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"nclt","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/08\/national-company-law-tribunal.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":267394,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/05\/25\/resolution-of-salary-of-two-months-purported-notice-period-of-operational-creditor-nclt-legal-news-law-legal-updates\/","url_meta":{"origin":253219,"position":5},"title":"Whether salary during notice period falls within definition of Operational Debt under IBC : Read NCLT&#8217;s decision","author":"Bhumika Indulia","date":"May 25, 2022","format":false,"excerpt":"National Company Law Tribunal, Mumbai Bench (NCLT): The Coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member deliberated on what amounts to a pre-existing dispute. 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