The Appellant, Agarwal Coal Corporation Ltd., filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against Shriram Cement Ltd. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, dismissed the application based on the ground of limitation. The Appellant appealed this decision.
Agarwal Coal Corporation Ltd. (Appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Shriram Cement Ltd. (Corporate Debtor). The Adjudicating Authority, Ahmedabad Bench, dismissed the application due to limitation. The Appellant appealed to the NCLAT. The Appellant referred to a Debt Settlement Agreement dated 01st March 2017, which was noticed by the Hon'ble High Court of Gujarat, and the High Court's order dated 20th July 2017, where the settlement was noticed. The NCLAT observed that the Adjudicating Authority wrongly rejected the application. Despite notice, the Corporate Debtor did not appear. The NCLAT found a prima facie case that the claim was not barred by
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Debt Settlement…
Hon'ble High Court of…
The Appellant, Agarwal Coal Corporation Ltd., filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against Shriram Cement Ltd. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, dismissed the application based on the ground of limitation. The Appellant appealed this decision.
Agarwal Coal Corporation Ltd. (Appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against Shriram Cement Ltd. (Corporate Debtor). The Adjudicating Authority, Ahmedabad Bench, dismissed the application due to limitation. The Appellant appealed to the NCLAT. The Appellant referred to a Debt Settlement Agreement dated 01st March 2017, which was noticed by the Hon'ble High Court of Gujarat, and the High Court's order dated 20th July 2017, where the settlement was noticed. The NCLAT observed that the Adjudicating Authority wrongly rejected the application. Despite notice, the Corporate Debtor did not appear. The NCLAT found a prima facie case that the claim was not barred by
…Debt Settlement…
Hon'ble High Court of…