The case involves an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which admitted an application filed by the respondent, Aggarwal Elastics Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating corporate insolvency resolution processes against the appellant, Anu Elastics Pvt. Ltd. The Adjudicating Authority had also declared a moratorium and called for names of interim Resolution Professionals. The appellant challenged the order, primarily on the grounds that no notice was issued or served by the Adjudicating Authority and that there was an existing dispute.
Aggarwal Elastics Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate corporate insolvency resolution processes against Anu Elastics Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority admitted the application, declared a moratorium, and called for names of interim Resolution Professionals. Anu Elastics Pvt. Ltd. appealed, arguing that no notice of the application was served to them. Aggarwal Elastics Pvt. Ltd. claimed notice was served through Dasti, supported by postal receipts and tracking records. The Adjudicating Authority's order indicated that although the notice was reported as not served at the given address, it was deemed sufficient. A letter from Anu Elastics Pvt. Ltd. to
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The case involves an appeal against the order of the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which admitted an application filed by the respondent, Aggarwal Elastics Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating corporate insolvency resolution processes against the appellant, Anu Elastics Pvt. Ltd. The Adjudicating Authority had also declared a moratorium and called for names of interim Resolution Professionals. The appellant challenged the order, primarily on the grounds that no notice was issued or served by the Adjudicating Authority and that there was an existing dispute.
Aggarwal Elastics Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate corporate insolvency resolution processes against Anu Elastics Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority admitted the application, declared a moratorium, and called for names of interim Resolution Professionals. Anu Elastics Pvt. Ltd. appealed, arguing that no notice of the application was served to them. Aggarwal Elastics Pvt. Ltd. claimed notice was served through Dasti, supported by postal receipts and tracking records. The Adjudicating Authority's order indicated that although the notice was reported as not served at the given address, it was deemed sufficient. A letter from Anu Elastics Pvt. Ltd. to
…A letter dated 1st June 2016 was written by a…
Learned counsel appearing on behalf of the…