This is an appeal filed under Section 61 of the Insolvency & Bankruptcy Code, 2016 by the Shareholder of M/s QRT Labs Pvt Ltd (Corporate Debtor) against the order dated 24.02.2022 passed by the Adjudicating Authority, National Company Law Tribunal, Kolkata Bench-I, Kolkata in CP(IB) No.671/KB/2019. The Adjudicating Authority admitted the application filed by the ‘Operational Creditor’ under Section 9 of the Code.
M/s Prama Instruments Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s QRT Labs Pvt Ltd (Corporate Debtor) for unpaid operational debt. The Adjudicating Authority admitted the application. The Corporate Debtor appealed, arguing that there was a pre-existing dispute regarding the price of goods supplied under a Memorandum of Understanding (MOU) executed on 14.08.2016. The Corporate Debtor issued cheques totaling Rs.35,54,755/-, which were dishonored. The Operational Creditor claimed that the MOU expired on 30.09.2016 and the invoices were for the period 10.03.2017 to 15.09.2018, and the Corporate Debtor admitted outstanding dues. The Corporate Debtor contended that the goods supplied were
…Sign in to view the parties.
A Memorandum of Understanding (MOU) was…
The MOU was va…
This is an appeal filed under Section 61 of the Insolvency & Bankruptcy Code, 2016 by the Shareholder of M/s QRT Labs Pvt Ltd (Corporate Debtor) against the order dated 24.02.2022 passed by the Adjudicating Authority, National Company Law Tribunal, Kolkata Bench-I, Kolkata in CP(IB) No.671/KB/2019. The Adjudicating Authority admitted the application filed by the ‘Operational Creditor’ under Section 9 of the Code.
M/s Prama Instruments Pvt Ltd (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s QRT Labs Pvt Ltd (Corporate Debtor) for unpaid operational debt. The Adjudicating Authority admitted the application. The Corporate Debtor appealed, arguing that there was a pre-existing dispute regarding the price of goods supplied under a Memorandum of Understanding (MOU) executed on 14.08.2016. The Corporate Debtor issued cheques totaling Rs.35,54,755/-, which were dishonored. The Operational Creditor claimed that the MOU expired on 30.09.2016 and the invoices were for the period 10.03.2017 to 15.09.2018, and the Corporate Debtor admitted outstanding dues. The Corporate Debtor contended that the goods supplied were
…A Memorandum of Understanding (MOU) was…
The MOU was va…