BKB Transport Pvt. Ltd. filed an appeal against the order dated 04.01.2021 passed by the National Company Law Tribunal (NCLT), Principal Bench, Delhi, in Company Petition (IB) No. - 180(PB)/2020. The NCLT had dismissed the application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The 'Corporate Debtor', NTPC Ltd., sought to set up a Super Thermal Power Project at Barh and invited bids for transportation of Coal. BKB Transport Pvt. Ltd. participated in the bid, and a contract agreement was entered into on 30.06.2016. BKB Transport Pvt. Ltd. claimed that an amount of Rs. 11,21,44,047.40/- was due and payable as on 29.02.2019, but NTPC Ltd. alleged a shortage of supply of Coal and did not pay the amounts. NTPC Ltd. also stated that the final bill was
…NTPC Ltd. sought to set up a Super Thermal Power Project at Barh and invited bids for transportation of Coal. BKB Transport Pvt. Ltd. participated in the bid, and a contract agreement was entered into on 30.06.2016 for the period 19.03.2016 to 18.03.2017 for a bid amount of Rs. 2,11,95,00,000/-. BKB Transport Pvt. Ltd. claimed that an amount of Rs. 11,21,44,047.40/- was due and payable as on 29.02.2019. NTPC Ltd. alleged a shortage of supply of Coal and did not pay the amounts. On 16.04.2019, NTPC Ltd. addressed a letter to BKB Transport Pvt. Ltd. to depute a representative for final payment, but no amount was paid. The allegations of short supply were denied by BKB Transport Pvt. Ltd. In an email dated 24.01.2020, NTPC Ltd. admitted that an amount of Rs.
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BKB Transport Pvt. Ltd. claimed that an…
BKB Transport Pvt. Ltd. filed an appeal against the order dated 04.01.2021 passed by the National Company Law Tribunal (NCLT), Principal Bench, Delhi, in Company Petition (IB) No. - 180(PB)/2020. The NCLT had dismissed the application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The 'Corporate Debtor', NTPC Ltd., sought to set up a Super Thermal Power Project at Barh and invited bids for transportation of Coal. BKB Transport Pvt. Ltd. participated in the bid, and a contract agreement was entered into on 30.06.2016. BKB Transport Pvt. Ltd. claimed that an amount of Rs. 11,21,44,047.40/- was due and payable as on 29.02.2019, but NTPC Ltd. alleged a shortage of supply of Coal and did not pay the amounts. NTPC Ltd. also stated that the final bill was
…NTPC Ltd. sought to set up a Super Thermal Power Project at Barh and invited bids for transportation of Coal. BKB Transport Pvt. Ltd. participated in the bid, and a contract agreement was entered into on 30.06.2016 for the period 19.03.2016 to 18.03.2017 for a bid amount of Rs. 2,11,95,00,000/-. BKB Transport Pvt. Ltd. claimed that an amount of Rs. 11,21,44,047.40/- was due and payable as on 29.02.2019. NTPC Ltd. alleged a shortage of supply of Coal and did not pay the amounts. On 16.04.2019, NTPC Ltd. addressed a letter to BKB Transport Pvt. Ltd. to depute a representative for final payment, but no amount was paid. The allegations of short supply were denied by BKB Transport Pvt. Ltd. In an email dated 24.01.2020, NTPC Ltd. admitted that an amount of Rs.
…A contract agreement…
BKB Transport Pvt. Ltd. claimed that an…