Akzo Nobel India Ltd. filed an appeal against the order of the National Company Law Tribunal (NCLT), New Delhi, Bench-II, which rejected their Section 7 petition under the Insolvency and Bankruptcy Code (IBC) against Stan Cars Pvt. Ltd. The NCLT rejected the petition based on the ground of limitation.
Akzo Nobel India Ltd. (Appellant) filed a Section 7 petition against Stan Cars Pvt. Ltd. (Respondent) under the IBC.
The NCLT rejected the petition on the ground of limitation.
An agreement was entered into between the Appellant and Respondent on 21.11.2017, where the Appellant extended a trade advance.
The Appellant disbursed a Trade Advance of Rs. 2,40,50,000/- to the Respondent.
The Respondent executed a Promissory Note dated 21.11.2017 in favour of the Financial Creditor.
The Respondent sent a mail dated 27.12.2019 acknowledging the debt of the Appellant.
The Appellant filed a petition under Section 7 of the code against the Respondent Corporate Debtor on 28.10.2022.
…Sign in to view the parties.
Agreement entered into…
Rs. 1,62,5…
Akzo Nobel India Ltd. filed an appeal against the order of the National Company Law Tribunal (NCLT), New Delhi, Bench-II, which rejected their Section 7 petition under the Insolvency and Bankruptcy Code (IBC) against Stan Cars Pvt. Ltd. The NCLT rejected the petition based on the ground of limitation.
Akzo Nobel India Ltd. (Appellant) filed a Section 7 petition against Stan Cars Pvt. Ltd. (Respondent) under the IBC.
The NCLT rejected the petition on the ground of limitation.
An agreement was entered into between the Appellant and Respondent on 21.11.2017, where the Appellant extended a trade advance.
The Appellant disbursed a Trade Advance of Rs. 2,40,50,000/- to the Respondent.
The Respondent executed a Promissory Note dated 21.11.2017 in favour of the Financial Creditor.
The Respondent sent a mail dated 27.12.2019 acknowledging the debt of the Appellant.
The Appellant filed a petition under Section 7 of the code against the Respondent Corporate Debtor on 28.10.2022.
…Agreement entered into…
Rs. 1,62,5…