NCLAT allows Uniworth Enterprises LLP's appeal, setting aside NCLT's rejection of its Section 9 insolvency application against Starco Metaplast Private Limited.
The appellate tribunal finds Starco's alleged pre-existing dispute over ₹40.84 lakh in debit notes to be 'moonshine and spurious' and not genuine.
NCLAT directs Starco to pay Uniworth's operational debt of ₹2.84 crore within 15 days or face Corporate Insolvency Resolution Process initiation.
The tribunal upholds NCLT's procedural order allowing Starco to file additional documents but finds no merit in their substantive defense.