The appeal was filed by M/s. G.L. Shoes, the Operational Creditor, against an order dated 06.06.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court-II) in CP(IB) No. 345(NB)/2020. The Adjudicating Authority had dismissed the Section 9 application filed by the Operational Creditor seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Action Udhyog Private Limited, on the grounds that the application was barred by limitation.
M/s. G.L. Shoes (Operational Creditor/Appellant) supplied footwear and related products to Action Udhyog Private Limited (Corporate Debtor/Respondent) based on purchase orders. Invoices stipulated payment within 75 days of the invoice date. Goods were supplied between April and June 2016, with payment falling due on 08.07.2016. The Operational Creditor issued a demand notice to the Corporate Debtor on 02.07.2019, demanding Rs. 22.26 lakhs as unpaid operational debt, including interest at 18% per annum. The Corporate Debtor did not issue any notice of dispute. The Operational Creditor filed a Section 9 application before the Adjudicating Authority. The Corporate Debtor allegedly acknowledged the debt in an email dated 05.05.2017. The Section 9 application was filed on
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Goods were su…
Payment fell…
The appeal was filed by M/s. G.L. Shoes, the Operational Creditor, against an order dated 06.06.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court-II) in CP(IB) No. 345(NB)/2020. The Adjudicating Authority had dismissed the Section 9 application filed by the Operational Creditor seeking initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Action Udhyog Private Limited, on the grounds that the application was barred by limitation.
M/s. G.L. Shoes (Operational Creditor/Appellant) supplied footwear and related products to Action Udhyog Private Limited (Corporate Debtor/Respondent) based on purchase orders. Invoices stipulated payment within 75 days of the invoice date. Goods were supplied between April and June 2016, with payment falling due on 08.07.2016. The Operational Creditor issued a demand notice to the Corporate Debtor on 02.07.2019, demanding Rs. 22.26 lakhs as unpaid operational debt, including interest at 18% per annum. The Corporate Debtor did not issue any notice of dispute. The Operational Creditor filed a Section 9 application before the Adjudicating Authority. The Corporate Debtor allegedly acknowledged the debt in an email dated 05.05.2017. The Section 9 application was filed on
…Goods were su…
Payment fell…