JUDGMENT

(Hybrid Mode)

Per: Barun Mitra, Member (Technical)

The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 (‘IBC’ in short) by the Appellant arises out of the Order dated 29.11.2024 (hereinafter referred to as ‘Impugned Order’) passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench-I)

in C.P. (IB)/211(AHM)/2024. By the impugned order, the Adjudicating Authority has admitted the Section 9 application filed by the present Respondent- Operational Creditor admitting the present Appellant-Corporate Debtor into Corporate Insolvency Resolution Process (“CIRP” in short). Aggrieved by the impugned order, the present appeal has been preferred by the Appellant-

Suspended Director of the Corporate Debtor.

2. Coming to the brief facts of the case, a Section 9 petition was filed by M/s Riddhi Siddhi Metals-Operational Creditor seeking initiation of CIRP against M/s Aquarius H2O Dynamics Pvt. Ltd.-Corporate Debtor for an outstanding debt of Rs. 1,16,40,233/- including Rs. 15,19,753/- as interest as of 15.03.2024. As part of their business transactions, the Corporate Debtor accepted the goods of the Operational Creditor without dispute and