This is a review application filed against an order passed by the National Company Law Appellate Tribunal (NCLAT) in Company Appeal (AT) (Insolvency) No. 379 of 2020. The original appeal was filed by the Applicant/Appellant challenging the order of the Adjudicating Authority, which had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) preferred by Respondent No. 2/Operational Creditor. The NCLAT had dismissed the appeal. The Review Applicant contends that the NCLAT did not consider certain evidence and that there was a pre-existing dispute. The Review Applicant/Appellant had also preferred an appeal before the Supreme Court of India in Civil Appeal No. 2960 of 2020, which was dismissed. A subsequent Review Petition/Civil No. 1824
…Adish Jain, a shareholder of J.P. Engineers Pvt. Ltd., filed an appeal challenging the admission of an insolvency application against the company. The application was filed by Worldwide Metals Private Limited, an operational creditor, under Section 9 of the IBC. The NCLAT dismissed the appeal, leading Adish Jain to file a review application. The review application argued that the NCLAT failed to consider crucial evidence, including reconciled accounts and confirmatory letters, suggesting a pre-existing dispute. The applicant claimed that the NCLT erred in holding that the disputes raised by the Corporate Debtor were illusory. The applicant also highlighted that accounts were reconciled with sister concerns, indicating no amount was due and payable. The Supreme Court
…Sign in to view the parties.
The Tribunal passed an…
The Hon'ble Apex Court dismissed the Appeal…
Sign in to view related legal provisions.
This is a review application filed against an order passed by the National Company Law Appellate Tribunal (NCLAT) in Company Appeal (AT) (Insolvency) No. 379 of 2020. The original appeal was filed by the Applicant/Appellant challenging the order of the Adjudicating Authority, which had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) preferred by Respondent No. 2/Operational Creditor. The NCLAT had dismissed the appeal. The Review Applicant contends that the NCLAT did not consider certain evidence and that there was a pre-existing dispute. The Review Applicant/Appellant had also preferred an appeal before the Supreme Court of India in Civil Appeal No. 2960 of 2020, which was dismissed. A subsequent Review Petition/Civil No. 1824
…Adish Jain, a shareholder of J.P. Engineers Pvt. Ltd., filed an appeal challenging the admission of an insolvency application against the company. The application was filed by Worldwide Metals Private Limited, an operational creditor, under Section 9 of the IBC. The NCLAT dismissed the appeal, leading Adish Jain to file a review application. The review application argued that the NCLAT failed to consider crucial evidence, including reconciled accounts and confirmatory letters, suggesting a pre-existing dispute. The applicant claimed that the NCLT erred in holding that the disputes raised by the Corporate Debtor were illusory. The applicant also highlighted that accounts were reconciled with sister concerns, indicating no amount was due and payable. The Supreme Court
…The Tribunal passed an…
The Hon'ble Apex Court dismissed the Appeal…
Sign in to view related legal provisions.