Two appeals were filed: one by the Operational Creditor (Drive India Enterprise Solutions Ltd.) against the dismissal of its Section 9 application, and the other by the Corporate Debtor (BGM Telecommunications Pvt. Ltd.) against the dismissal of its application for punitive proceedings against the Operational Creditor.
Drive India Enterprise Solutions Ltd. filed an application under Section 9 of the IBC for the resolution of an amount of Rs. 35,57,89,682/-.
The amount claimed includes a principal amount of Rs. 23,19,42,081/- and interest of Rs. 13,69,05,456/- calculated at 18% p.a.
The claim pertains to unpaid amounts from August 2017 to August 2020.
The Operational Creditor delivered telecommunication devices of Semi Knocked Down (SKD) state and batteries to the Corporate Debtor under a High Sea Sale Agreement (HSS Agreement).
The Tribunal dismissed the Section 9 application based on the fact that the same appellant had filed similar applications against other Corporate Debtors which were also dismissed.
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Two appeals were filed: one by the Operational Creditor (Drive India Enterprise Solutions Ltd.) against the dismissal of its Section 9 application, and the other by the Corporate Debtor (BGM Telecommunications Pvt. Ltd.) against the dismissal of its application for punitive proceedings against the Operational Creditor.
Drive India Enterprise Solutions Ltd. filed an application under Section 9 of the IBC for the resolution of an amount of Rs. 35,57,89,682/-.
The amount claimed includes a principal amount of Rs. 23,19,42,081/- and interest of Rs. 13,69,05,456/- calculated at 18% p.a.
The claim pertains to unpaid amounts from August 2017 to August 2020.
The Operational Creditor delivered telecommunication devices of Semi Knocked Down (SKD) state and batteries to the Corporate Debtor under a High Sea Sale Agreement (HSS Agreement).
The Tribunal dismissed the Section 9 application based on the fact that the same appellant had filed similar applications against other Corporate Debtors which were also dismissed.
…Date of the impugned order by which the…
Date of the order passed by the National Company…
Sign in to view related legal provisions.