Authority: High Court of Judicature at Bombay, Commercial Division
Order Date: 24 September 2026
Case Overview
- Petitioner: Elixiray Consulting Private Ltd; Respondent: Neblio Technologies Private Limited.
- Petition filed under Section 9 of the Arbitration and Conciliation Act, 1996 seeking interim protection of an alleged liability of Rs 37,38,150 claimed to have been admitted by the Respondent in NCLT proceedings.
- The petitioner relied on the alleged admission in the NCLT reply, asserting the amount was undisputed.
- Respondent produced the NCLT’s merit judgment dated 23 January 2024, which found a genuine pre‑existing dispute concerning the Operational Creditor’s claim of fraudulent data and held that the creditor failed to establish a crystallized operational debt exceeding the threshold under Section 4 of the Insolvency and Bankruptcy Code, 2016.
- The petitioner did not disclose this judgment initially; it was only placed on record by the respondent, after which the petitioner acknowledged its existence.
- The Court emphasized the discretionary nature of Section 9 relief and the duty of full and fair disclosure of material facts, including adverse facts.
Final Outcome
- The Court held that the alleged admission, in light of the NCLT findings, does not constitute an admitted and undisputed liability; consequently, the petition fails to meet the threshold for interim relief and is dismissed.
Topics: Arbitration, Interim Relief, Court Order