The appellant, KEC International Ltd., challenged an order dated August 29, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which rejected the appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The rejection was based on the existence of a dispute between the parties, as indicated in a notice of dispute from the respondent, Logic Eastern India Pvt. Ltd., regarding the amount claimed in the appellant's demand notice under Section 8 of the Code. Subsequently, a Corporate Insolvency Resolution Process was initiated against the respondent.
KEC International Ltd. (the appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Logic Eastern India Pvt. Ltd. (the respondent). The Adjudicating Authority (National Company Law Tribunal) rejected the application on August 29, 2018, because there was a pre-existing dispute between the parties regarding the amount claimed in the demand notice issued under Section 8 of the Code. The respondent had issued a notice of dispute. Subsequently, a Corporate Insolvency Resolution Process was initiated against the respondent. The appellant filed a claim on January 14, 2019, which the Resolution Professional is collating and considering under the provisions of the I&B Code. The appellant appealed the Adjudicating Authority's order.
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The Adjudicating Authority (National Company…
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The appellant, KEC International Ltd., challenged an order dated August 29, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, which rejected the appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The rejection was based on the existence of a dispute between the parties, as indicated in a notice of dispute from the respondent, Logic Eastern India Pvt. Ltd., regarding the amount claimed in the appellant's demand notice under Section 8 of the Code. Subsequently, a Corporate Insolvency Resolution Process was initiated against the respondent.
KEC International Ltd. (the appellant) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Logic Eastern India Pvt. Ltd. (the respondent). The Adjudicating Authority (National Company Law Tribunal) rejected the application on August 29, 2018, because there was a pre-existing dispute between the parties regarding the amount claimed in the demand notice issued under Section 8 of the Code. The respondent had issued a notice of dispute. Subsequently, a Corporate Insolvency Resolution Process was initiated against the respondent. The appellant filed a claim on January 14, 2019, which the Resolution Professional is collating and considering under the provisions of the I&B Code. The appellant appealed the Adjudicating Authority's order.
The Adjudicating Authority (National Company…
The matter was taken up…