This is a Company Appeal (AT) (Insolvency) No. 825 of 2020 before the National Company Law Appellate Tribunal, New Delhi. The appeal concerns an order admitting an application by Respondent No. 1 (Operational Creditor) under Section 9 of the I&B Code. The Appellant contends that the debt, for which default occurred on January 14, 2015, is barred by limitation, and the Corporate Debtor had raised a dispute regarding the quality and execution of the agreement.
Gammon Infrastructure Projects Ltd. filed an appeal against the order admitting the application of AF Consult India Pvt. Ltd. (Respondent No. 1), an operational creditor, under Section 9 of the I&B Code. The appellant, Gammon Infrastructure Projects Ltd., argues that the debt, with a default date of January 14, 2015, is barred by limitation. Furthermore, the Corporate Debtor claims to have raised a dispute regarding the quality and execution of the agreement. The court issued notices to the respondents, which were waived by their respective advocates. The Interim Resolution Professional (IRP) is directed to ensure the company remains a going concern and to take assistance from the suspended Board of Directors. The Corporate Debtor is required to cooperate with the IRP.
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This is a Company Appeal (AT) (Insolvency) No. 825 of 2020 before the National Company Law Appellate Tribunal, New Delhi. The appeal concerns an order admitting an application by Respondent No. 1 (Operational Creditor) under Section 9 of the I&B Code. The Appellant contends that the debt, for which default occurred on January 14, 2015, is barred by limitation, and the Corporate Debtor had raised a dispute regarding the quality and execution of the agreement.
Gammon Infrastructure Projects Ltd. filed an appeal against the order admitting the application of AF Consult India Pvt. Ltd. (Respondent No. 1), an operational creditor, under Section 9 of the I&B Code. The appellant, Gammon Infrastructure Projects Ltd., argues that the debt, with a default date of January 14, 2015, is barred by limitation. Furthermore, the Corporate Debtor claims to have raised a dispute regarding the quality and execution of the agreement. The court issued notices to the respondents, which were waived by their respective advocates. The Interim Resolution Professional (IRP) is directed to ensure the company remains a going concern and to take assistance from the suspended Board of Directors. The Corporate Debtor is required to cooperate with the IRP.
Alleged date of…
Court issued notice to respondents and…
Sign in to view related legal provisions.