Apya Capital Services Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Guardian Homes Private Limited (Corporate Debtor). The Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) dismissed the application, citing a deficiency in service provided by Apya Capital and the absence of a claimed debt. Apya Capital appealed this decision, which was initially set aside by the NCLAT, directing the Tribunal to admit the petition after providing an opportunity for the Corporate Debtor to settle the claim. The NCLAT's order was based on the premise that Guardian Homes had obtained funding through Apya Capital's services but had only made

Apya Capital Services Private Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against Guardian Homes Private Limited (Corporate Debtor). The Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) dismissed the application, citing a deficiency in service provided by Apya Capital and the absence of a claimed debt. Apya Capital appealed this decision, which was initially set aside by the NCLAT, directing the Tribunal to admit the petition after providing an opportunity for the Corporate Debtor to settle the claim. The NCLAT's order was based on the premise that Guardian Homes had obtained funding through Apya Capital's services but had only made