# In the matter of Yusuf Malubhaiwala vs. Anuj Maheshwari

> NCLAT judgment dated 2025-12-10. Citation: TCN-2025-NCLAT-00620. The appeal arises from an order dated 12.06.2025 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 10 Dec 2025
- **Citation:** TCN-2025-NCLAT-00620
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/yusuf-malubhaiwala-vs-anuj-maheshwari-cdb797ef

## Summary

### Background

The appeal arises from an order dated 12.06.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench) in C.P. (IB) No. 29/9/MP/2020, which admitted a Section 9 application filed by Respondent No. 2, an Operational Creditor, and initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Appellant, an ex-Director of the Corporate Debtor, has preferred this appeal.

## Facts

The Operational Creditor, Haji Shahadat & Sons, claimed that the Corporate Debtor, Steelexpert Industries (Indore) Ltd., failed to clear the entire outstanding amount despite repeated requests.

A Demand Notice under Section 8 of IBC was issued on 17.10.2019, and the Corporate Debtor responded with a Notice of Dispute on 26.10.2019.

The Operational Creditor filed two separate applications under Section 9 of the IBC.

The Operational Creditor claimed a debt of Rs 2,32,98,535/-, comprising of Rs 1,56,44,009/- towards supplies made and Rs 76,54,526/- towards interest.

The Corporate Debtor claimed to have made cash payments to the Operational Creditor, supported by cash receipts.

…

## Issues and analysis

### Issue 1: Whether there was a pre-existing …

**Ratio:** A pre-existing dispute must not only exist prior to the demand notice but the dispute

…

**Reasoning:** The NCLAT found that the police complaints and civil suit did not clearly relate to the

…

**Interpretation:** The Tribunal interpreted the evidence to suggest that the disputes were not

…

**Application:** The NCLAT applied the Mobilox judgement supra and found that the disputes did

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Yusuf Malub…
- **Respondents:** Steelexpert…; Anuj Mahe…; +1 more
- **Advocates:** Abhijeet…; Vijayesh…; +8 more

## Timeline

- **17.10.2019 — Demand N…**: Operational Creditor issued a…
- **26.10.2019 — Notice of D…**: Corporate Debtor responded…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/yusuf-malubhaiwala-vs-anuj-maheshwari-cdb797ef