NCLAT Upholds NCLT Order, Dismisses Insolvency Plea Against Eastman Auto

• NCLAT dismissed an appeal seeking insolvency proceedings against Eastman Auto & Power, upholding the NCLT's decision.
• The tribunal found a "pre-existing dispute" with operational creditor Vave India Energy Solutions before the Section 8 notice.
• NCLT is not required to assess the merits of a dispute if a genuine pre-existing dispute is established.
• Vave India Energy Solutions alleged a default of Rs 1.02 crore for defective inverter batteries.
• Eastman Auto & Power claimed the credit note was obtained under economic coercion and warranty obligations had expired.