Agarwal Industries Pvt. Ltd., the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code (I&B Code) for initiating the Corporate Insolvency Resolution Process against Amit Feeds Limited, the Corporate Debtor. The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata, admitted the application via an order dated 15.01.2019. Subsequently, the Director/Shareholders of the Corporate Debtor preferred an appeal against this order.
Agarwal Industries Pvt. Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Amit Feeds Limited (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code (I&B Code). The Adjudicating Authority admitted the application on 15.01.2019. The Director/Shareholders of the Corporate Debtor appealed the admission order. During the appeal, the Appellant argued the existence of pre-existing disputes, supported by a letter dated 10.04.2017. The parties reached a settlement on 08.02.2019, with a demand draft of Rs. 20,50,000/- prepared for payment to the Operational Creditor. The Committee of Creditors had not yet been constituted. The Operational Creditor's Constituted Attorney confirmed the settlement. The existence of
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Agarwal Industries Pvt. Ltd., the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code (I&B Code) for initiating the Corporate Insolvency Resolution Process against Amit Feeds Limited, the Corporate Debtor. The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata, admitted the application via an order dated 15.01.2019. Subsequently, the Director/Shareholders of the Corporate Debtor preferred an appeal against this order.
Agarwal Industries Pvt. Ltd. (Operational Creditor) initiated Corporate Insolvency Resolution Process (CIRP) against Amit Feeds Limited (Corporate Debtor) under Section 9 of the Insolvency & Bankruptcy Code (I&B Code). The Adjudicating Authority admitted the application on 15.01.2019. The Director/Shareholders of the Corporate Debtor appealed the admission order. During the appeal, the Appellant argued the existence of pre-existing disputes, supported by a letter dated 10.04.2017. The parties reached a settlement on 08.02.2019, with a demand draft of Rs. 20,50,000/- prepared for payment to the Operational Creditor. The Committee of Creditors had not yet been constituted. The Operational Creditor's Constituted Attorney confirmed the settlement. The existence of
…Appellant int…
Adjudicating A…