NCLT Hyderabad dismissed an insolvency petition filed by Sri Balaji Associates against Madhucon Projects Ltd under Section 9 of IBC.
Petitioner claimed Rs 83.85 lakh unpaid debt from 2009-2011 subcontracts for highway projects, but tribunal found pre-existing disputes.
Corporate Debtor demonstrated disputes existed since 2014-2015 regarding work quality, penalties from NHAI, and incomplete contract conditions.
Tribunal applied Mobilox Innovations test, ruling disputes were genuine and not spurious, making petition inadmissible under IBC.