The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal filed by Law & Kenneth Saatchi & Saatchi Private Limited against the National Company Law Tribunal (NCLT) ruling. The NCLAT found that there was a "pre-existing dispute" regarding the issuance of a No Objection Certificate (NOC) necessary for the registration of copyright related to the television commercial (TVC) produced for Patanjali Paridhan Private Limited.
“The correspondence between the parties regarding the NOC occurred prior to the issuance of demand notice under Section 8 of the Insolvency and Bankruptcy Code (IBC). This established that a genuine dispute existed before the operational creditor initiated insolvency proceedings”, said the NCLAT.
The appeal stems from a dispute over partial unpaid dues related to services rendered by Saatchi & Saatchi for the production of a television commercial (TVC) and other digital content.
Mr Anirudh Krishan Gandhi and Ms Anushree Poddar represented Law & Kenneth Saatchi & Saatchi Private Limited while Mr Rohit Gupta and Ms Smita Jain appeared on behalf of Patanjali Paridhan.
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