Chemical Suppliers India Private Limited (Appellant) filed an appeal against the order of the Adjudicating Authority.

The Adjudicating Authority dismissed the Section 9 application filed by the Appellant.

The Appellant claimed that Kanodia Technoplast Limited (Respondent) failed to pay an outstanding amount of Rs 7,84,94,085/-.

The outstanding amount included a principal component of Rs 6,13,26,856/- and an interest component of Rs 1,71,67,229/-.

The Appellant filed C.P. No. 734 of 2021 under Section 9 on 22.11.2021 to initiate CIRP against the Respondent.

The Adjudicating Authority dismissed the Section 9 application on 16.10.2023 due to non-maintainability under Section 10-A of IBC.

Chemical Suppliers India Private Limited (Appellant) filed an appeal against the order of the Adjudicating Authority.

The Adjudicating Authority dismissed the Section 9 application filed by the Appellant.

The Appellant claimed that Kanodia Technoplast Limited (Respondent) failed to pay an outstanding amount of Rs 7,84,94,085/-.

The outstanding amount included a principal component of Rs 6,13,26,856/- and an interest component of Rs 1,71,67,229/-.

The Appellant filed C.P. No. 734 of 2021 under Section 9 on 22.11.2021 to initiate CIRP against the Respondent.

The Adjudicating Authority dismissed the Section 9 application on 16.10.2023 due to non-maintainability under Section 10-A of IBC.