The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC), against an order dated 26.02.2020 passed by the National Company Law Tribunal (NCLT), Kolkata Bench, which rejected the petition filed under Section 9 of the IBC on behalf of the Appellant for initiating Corporate Insolvency Resolution Process (CIRP). The NCLT dismissed the petition primarily because of a pre-existing dispute, relying on the Supreme Court judgment in Mobilox Innovations Pvt. Ltd Vs. Kirusa Software Pvt. Ltd.
Jangsher Singh Choudhary, proprietor of M/s Capital Fire Engineering Co. (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Ram Kripal Singh Construction Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying an operational debt of Rs. 1,38,63,233.65. The Operational Creditor had set up a fire and safety system for the Corporate Debtor and raised a total bill of Rs. 1,25,28,196. The Corporate Debtor did not pay the debt, leading the Operational Creditor to file a suit for recovery in the Court of Additional District Judge, Gurugram District Courts, Haryana, in 2014 (Civil Suit No. 111 of 2014). The Ld. Judge
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Operational Creditor filed a suit for recovery…
Ld. Judge decreed the…
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC), against an order dated 26.02.2020 passed by the National Company Law Tribunal (NCLT), Kolkata Bench, which rejected the petition filed under Section 9 of the IBC on behalf of the Appellant for initiating Corporate Insolvency Resolution Process (CIRP). The NCLT dismissed the petition primarily because of a pre-existing dispute, relying on the Supreme Court judgment in Mobilox Innovations Pvt. Ltd Vs. Kirusa Software Pvt. Ltd.
Jangsher Singh Choudhary, proprietor of M/s Capital Fire Engineering Co. (Operational Creditor), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Ram Kripal Singh Construction Private Limited (Corporate Debtor) to initiate Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying an operational debt of Rs. 1,38,63,233.65. The Operational Creditor had set up a fire and safety system for the Corporate Debtor and raised a total bill of Rs. 1,25,28,196. The Corporate Debtor did not pay the debt, leading the Operational Creditor to file a suit for recovery in the Court of Additional District Judge, Gurugram District Courts, Haryana, in 2014 (Civil Suit No. 111 of 2014). The Ld. Judge
…Operational Creditor filed a suit for recovery…
Ld. Judge decreed the…