M/S S.S. ENGINEERS vs HINDUSTAN PETROLEUM CORPORATION LTD.

The Supreme Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT) which set aside the NCLT's admission of an application for Corporate Insolvency Resolution Process (CIRP) against Hindustan Petroleum Corporation Ltd.'s subsidiary. The court found that there were pre-existing disputes between the parties that precluded the initiation of CIRP under Section 9 of the Insolvency and Bankruptcy Code. Consequently, the appeal by M/S S.S. Engineers was dismissed, affirming the NCLAT's directive to close the CIRP proceedings.