The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, which admitted an application for Corporate Insolvency Resolution Process (CIRP) against the Appellants-'Corporate Debtor' based on Section 9 of the Insolvency and Bankruptcy Code (I&B Code). The Respondent-'Operational Creditor' had filed the application. The Appellants-'Corporate Debtor' contended that a pre-existing dispute existed, rendering the application under Section 9 not maintainable.
A.D. Electro Steel Co. Pvt. Ltd. & Anr. (Appellants-'Corporate Debtor') faced an application for Corporate Insolvency Resolution Process (CIRP) filed by Anil Steels (Respondent-'Operational Creditor') under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, admitted the application on September 7, 2017. The Appellants-'Corporate Debtor' appealed, arguing that a dispute existed prior to the application. The Respondent-'Operational Creditor' issued a notice dated June 15, 2016, under Section 138 of the Negotiable Instrument Act, 1881, making certain claims. The Appellants-'Corporate Debtor' replied on June 28, 2016, raising a dispute about the supply of Buffer Plunger (Wagon) Casting and
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Anil Steels (Operational Creditor) issued a…
A.D. Electro Steel Co. Pvt. Ltd. & Anr.…
The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, which admitted an application for Corporate Insolvency Resolution Process (CIRP) against the Appellants-'Corporate Debtor' based on Section 9 of the Insolvency and Bankruptcy Code (I&B Code). The Respondent-'Operational Creditor' had filed the application. The Appellants-'Corporate Debtor' contended that a pre-existing dispute existed, rendering the application under Section 9 not maintainable.
A.D. Electro Steel Co. Pvt. Ltd. & Anr. (Appellants-'Corporate Debtor') faced an application for Corporate Insolvency Resolution Process (CIRP) filed by Anil Steels (Respondent-'Operational Creditor') under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, admitted the application on September 7, 2017. The Appellants-'Corporate Debtor' appealed, arguing that a dispute existed prior to the application. The Respondent-'Operational Creditor' issued a notice dated June 15, 2016, under Section 138 of the Negotiable Instrument Act, 1881, making certain claims. The Appellants-'Corporate Debtor' replied on June 28, 2016, raising a dispute about the supply of Buffer Plunger (Wagon) Casting and
…Anil Steels (Operational Creditor) issued a…
A.D. Electro Steel Co. Pvt. Ltd. & Anr.…