The appeal was preferred by the appellant (Corporate Debtor) against the order dated 26th October 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata, which admitted the application preferred by the respondent (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had admitted the application, passed an order of moratorium, and appointed an Interim Resolution Professional. The Operational Creditor moved the application under Section 9 of I&B Code on alleged default of debt for the services it rendered in the State of Orissa, supported by a bank statement relating to both Orissa and Uttar Pradesh. The appellant pointed out a dispute existed, but the Adjudicating
…Bajoria Holdings Pvt. Ltd. (Appellant/Corporate Debtor) appealed against an order by the Adjudicating Authority (NCLT Kolkata) dated October 26, 2017. The order admitted an application by Bard Roy Infotech Pvt. Ltd. & Anr. (Respondent/Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), initiated a moratorium, and appointed an Interim Resolution Professional (IRP). The Operational Creditor's application was based on an alleged default for services rendered in Orissa, supported by a bank statement covering both Orissa and Uttar Pradesh. The Corporate Debtor argued the existence of a dispute. The Adjudicating Authority initially rejected this argument, stating the dispute related to services in Uttar Pradesh, not Orissa. Subsequently,
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Adjudicating Authority (National Company Law…
A 'Deed of Settlement'…
The appeal was preferred by the appellant (Corporate Debtor) against the order dated 26th October 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata, which admitted the application preferred by the respondent (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had admitted the application, passed an order of moratorium, and appointed an Interim Resolution Professional. The Operational Creditor moved the application under Section 9 of I&B Code on alleged default of debt for the services it rendered in the State of Orissa, supported by a bank statement relating to both Orissa and Uttar Pradesh. The appellant pointed out a dispute existed, but the Adjudicating
…Bajoria Holdings Pvt. Ltd. (Appellant/Corporate Debtor) appealed against an order by the Adjudicating Authority (NCLT Kolkata) dated October 26, 2017. The order admitted an application by Bard Roy Infotech Pvt. Ltd. & Anr. (Respondent/Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), initiated a moratorium, and appointed an Interim Resolution Professional (IRP). The Operational Creditor's application was based on an alleged default for services rendered in Orissa, supported by a bank statement covering both Orissa and Uttar Pradesh. The Corporate Debtor argued the existence of a dispute. The Adjudicating Authority initially rejected this argument, stating the dispute related to services in Uttar Pradesh, not Orissa. Subsequently,
…Adjudicating Authority (National Company Law…
A 'Deed of Settlement'…