Bhushan Power & Steel Limited (BPSL), the Appellant, filed an appeal against the dismissal of its Section 9 petition by the National Company Law Tribunal (NCLT) on 12.07.2024. The NCLT dismissed the petition against A.G. Pipes Private Limited, the Corporate Debtor, on the grounds that the operational debt default was less than the statutory minimum of Rupees One Crore, as stipulated by Section 4 of the Insolvency and Bankruptcy Code (IBC). BPSL claimed an outstanding amount of Rs. 1,49,04,757/- from the Respondent for steel products supplied. The Corporate Debtor had raised a defense that A.G. Pipes (a proprietorship firm) and A.G. Pipes Private Limited (a company) are distinct legal entities and the debt attributed to the proprietorship cannot be clubbed with the

Bhushan Power & Steel Limited (BPSL), the Appellant, filed an appeal against the dismissal of its Section 9 petition by the National Company Law Tribunal (NCLT) on 12.07.2024. The NCLT dismissed the petition against A.G. Pipes Private Limited, the Corporate Debtor, on the grounds that the operational debt default was less than the statutory minimum of Rupees One Crore, as stipulated by Section 4 of the Insolvency and Bankruptcy Code (IBC). BPSL claimed an outstanding amount of Rs. 1,49,04,757/- from the Respondent for steel products supplied. The Corporate Debtor had raised a defense that A.G. Pipes (a proprietorship firm) and A.G. Pipes Private Limited (a company) are distinct legal entities and the debt attributed to the proprietorship cannot be clubbed with the