The appellant, Jignesh Pravindbhai Shah, filed an appeal against the Adjudicating Authority's decision to admit a Section 9 application. The appellant contends that a pre-existing dispute existed before the issuance of the Section 8 notice. Letters were exchanged between the parties on January 27, 2021, and July 28, 2020, regarding the dispute. The appellant claims the Corporate Debtor did not deny receiving these letters, but the Adjudicating Authority disregarded them. To demonstrate bona fides, the appellant is willing to deposit Rs. 1,71,57,864/- within three weeks. The Impugned Order dated 27th January, 2023 shall remain stayed subject to deposit of aforesaid principal amount.

The appellant, Jignesh Pravindbhai Shah, filed an appeal against the Adjudicating Authority's decision to admit a Section 9 application. The appellant contends that a pre-existing dispute existed before the issuance of the Section 8 notice. Letters were exchanged between the parties on January 27, 2021, and July 28, 2020, regarding the dispute. The appellant claims the Corporate Debtor did not deny receiving these letters, but the Adjudicating Authority disregarded them. To demonstrate bona fides, the appellant is willing to deposit Rs. 1,71,57,864/- within three weeks. The Impugned Order dated 27th January, 2023 shall remain stayed subject to deposit of aforesaid principal amount.