NCLT Hyderabad dismisses Section 9 IBC application by M/s Isthara Parks Pvt Ltd due to pre-existing dispute

The NCLT Hyderabad Bench, led by Judicial Member Shri Rajeev Bhardwaj and Technical Member Shri Sanjay Puri, has ruled that if a prima facie case of a legitimate pre-existing dispute is established before issuing a demand notice under Section 8(1) of the Insolvency and Bankruptcy Code (IBC), the Adjudicating Authority must dismiss any application filed by an Operational Creditor under Section 9 of the Code.