This is an appeal preferred by the Director of M/s. Bangs Resto Ventures Private Limited (Corporate Debtor) against the order dated 25th July, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Chennai. The Adjudicating Authority admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by M/s. Godrej Tyson Foods Limited (Operational Creditor). The Operational Creditor claimed an outstanding debt of Rs. 43,17,724/- inclusive of interest for the period from 20th December, 2014 to 31st March, 2018.
M/s. Godrej Tyson Foods Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Bangs Resto Ventures Private Limited (Corporate Debtor) claiming an outstanding debt of Rs. 43,17,724/- inclusive of interest for the period from 20th December, 2014 to 31st March, 2018. The Adjudicating Authority admitted the application. The Corporate Debtor, through its Director, appealed against the order. The Operational Creditor and the Corporate Debtor had entered into a Memorandum of Understanding (MoU) on 15th July, 2014, for the sale of marinated chicken products. The Corporate Debtor was to supply Marinate Powder to the Operational Creditor, who would prepare the finished product and supply it to the franchisee
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This is an appeal preferred by the Director of M/s. Bangs Resto Ventures Private Limited (Corporate Debtor) against the order dated 25th July, 2018 passed by the Adjudicating Authority (National Company Law Tribunal), Chennai. The Adjudicating Authority admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 filed by M/s. Godrej Tyson Foods Limited (Operational Creditor). The Operational Creditor claimed an outstanding debt of Rs. 43,17,724/- inclusive of interest for the period from 20th December, 2014 to 31st March, 2018.
M/s. Godrej Tyson Foods Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Bangs Resto Ventures Private Limited (Corporate Debtor) claiming an outstanding debt of Rs. 43,17,724/- inclusive of interest for the period from 20th December, 2014 to 31st March, 2018. The Adjudicating Authority admitted the application. The Corporate Debtor, through its Director, appealed against the order. The Operational Creditor and the Corporate Debtor had entered into a Memorandum of Understanding (MoU) on 15th July, 2014, for the sale of marinated chicken products. The Corporate Debtor was to supply Marinate Powder to the Operational Creditor, who would prepare the finished product and supply it to the franchisee
…The ‘Operational Creditor' and the…
Start of the period for…
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