The appeal was filed by M/s Laxmi Trading Corporation (LTC), an Operational Creditor (OC), against an order dated 25.08.2023 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, in Company Petition (IB) No. 147/MB-IV/2021 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. LTC claimed that Hindustan Construction Company Limited (HCCL), the Corporate Debtor (CD), owed them money for hardware tools, rubber goods, pipes, fittings, and other related equipment supplied between 2010 and 2019. The NCLT dismissed LTC's application, leading to the present appeal.
M/s Laxmi Trading Corporation (LTC) supplied hardware tools, rubber goods, pipes, and fittings to M/s Hindustan Construction Company Limited (HCCL) between 2010 and 2019. LTC raised invoices totaling Rs.3,71,55,764.8. HCCL made partial payments of Rs.2,17,47,092.13, leaving a shortfall of Rs.1,54,08,672.77. LTC sent an email on 14.07.2017 requesting payment. HCCL deposited Rs.4,00,000, which LTC claims was not received. LTC sent further emails on 07.01.2019 and 26.01.2019, which went unanswered. HCCL made partial payments of Rs.3,00,000 on 30.10.2019 and Rs.2,00,000 on 03.08.2021. LTC issued a demand notice on 17.03.2020 for Rs.3,73,32,239.30, including interest. HCCL failed to reply. LTC filed an application before the NCLT, which was dismissed. HCCL argued that 224
…Sign in to view the parties.
Laxmi Trading Corporation supplied hardware…
The period of s…
The appeal was filed by M/s Laxmi Trading Corporation (LTC), an Operational Creditor (OC), against an order dated 25.08.2023 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, in Company Petition (IB) No. 147/MB-IV/2021 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. LTC claimed that Hindustan Construction Company Limited (HCCL), the Corporate Debtor (CD), owed them money for hardware tools, rubber goods, pipes, fittings, and other related equipment supplied between 2010 and 2019. The NCLT dismissed LTC's application, leading to the present appeal.
M/s Laxmi Trading Corporation (LTC) supplied hardware tools, rubber goods, pipes, and fittings to M/s Hindustan Construction Company Limited (HCCL) between 2010 and 2019. LTC raised invoices totaling Rs.3,71,55,764.8. HCCL made partial payments of Rs.2,17,47,092.13, leaving a shortfall of Rs.1,54,08,672.77. LTC sent an email on 14.07.2017 requesting payment. HCCL deposited Rs.4,00,000, which LTC claims was not received. LTC sent further emails on 07.01.2019 and 26.01.2019, which went unanswered. HCCL made partial payments of Rs.3,00,000 on 30.10.2019 and Rs.2,00,000 on 03.08.2021. LTC issued a demand notice on 17.03.2020 for Rs.3,73,32,239.30, including interest. HCCL failed to reply. LTC filed an application before the NCLT, which was dismissed. HCCL argued that 224
…Laxmi Trading Corporation supplied hardware…
The period of s…