NCLT says IBC Cannot Be Used to Resolve a Genuine Commercial Dispute

Asier Metals claimed ₹2.79 crore from Polycab India for aluminium ingot supplies, while Polycab relied on pricing adjustments, credit notes, detention and demurrage claims, and ongoing reconciliation to dispute the amount. The Tribunal found that the supplies and invoices were not in dispute, and that the correspondence and adjustments relied upon by Polycab did not establish a legally sufficient pre-existing dispute. It admitted the Section 9 petition and initiated CIRP against Polycab.