M/S JAI BALAJI INDUSTRIES vs D.K. MOHANTY

The Supreme Court addressed appeals under the Insolvency and Bankruptcy Code, 2016, challenging the NCLAT's decision that set aside the NCLT's admission of the appellant's application for Corporate Insolvency Resolution Process. The court found that the operational debt claimed by the appellant was not free from pre-existing disputes, thus upholding the NCLAT's ruling. The outcome reinforces the necessity for clarity regarding operational debts in insolvency proceedings.