The appeal was filed by Anshul Vashistha, Director of Saturn Prefab India Pvt. Ltd., under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 13.03.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench at Ahmedabad) in CP (IB) No. 374 /9/NCLT/AHM/ 2018. The Operational Creditor is Jayhind Steel Traders. The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The initiation of CIRP was based on findings including the existence of operational debt above Rs. One Lac, the debt being due, and default occurring on 30.11.2016. The petition was filed within the limitation period, with the date of default being 30.11.2016 and the petition filed on
…Anshul Vashistha, Director of M/s. Saturn Prefab India Pvt. Ltd., filed an appeal against the order dated 13.03.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench at Ahmedabad). The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Saturn Prefab India Pvt. Ltd. based on an application by the Operational Creditor, M/s. Jayhind Steel Traders. The default was claimed to have occurred on 30.11.2016, with the petition being filed on 11.07.2018. The Operational Creditor claimed an outstanding amount of Rs. 1,81,61,422.00. The Appellant disputed the outstanding amount and alleged that there was a pre-existing dispute. The Appellant also submitted that a group firm of the Respondent No.2 Company
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The appeal was filed by Anshul Vashistha, Director of Saturn Prefab India Pvt. Ltd., under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 13.03.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench at Ahmedabad) in CP (IB) No. 374 /9/NCLT/AHM/ 2018. The Operational Creditor is Jayhind Steel Traders. The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The initiation of CIRP was based on findings including the existence of operational debt above Rs. One Lac, the debt being due, and default occurring on 30.11.2016. The petition was filed within the limitation period, with the date of default being 30.11.2016 and the petition filed on
…Anshul Vashistha, Director of M/s. Saturn Prefab India Pvt. Ltd., filed an appeal against the order dated 13.03.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench at Ahmedabad). The Adjudicating Authority had initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Saturn Prefab India Pvt. Ltd. based on an application by the Operational Creditor, M/s. Jayhind Steel Traders. The default was claimed to have occurred on 30.11.2016, with the petition being filed on 11.07.2018. The Operational Creditor claimed an outstanding amount of Rs. 1,81,61,422.00. The Appellant disputed the outstanding amount and alleged that there was a pre-existing dispute. The Appellant also submitted that a group firm of the Respondent No.2 Company
…The date on wh…
The date on which the…