The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code 2016 by Manishaas Infratecho Solutions Pvt. Ltd, arising from an order dated 05.03.2024 with a corrigendum dated 11.03.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata, Court-II) in CP (IB) 304/KB/2022. The Adjudicating Authority had dismissed Section 9 Application filed by the Appellant (Operational Creditor) and imposed a penalty of Rs. One Lakh. The Appellant claimed that they had provided development-cum-maintenance work to the Corporate Debtor, Bhonu Hulshi Real Estate, completed the work, raised invoices, and were owed Rs. 2.83 cr including interest. The Corporate Debtor claimed that all payments had been made.
Manishaas Infratecho Solutions Pvt. Ltd (Operational Creditor/Appellant) claimed that Bhonu Hulshi Real Estate (Corporate Debtor/Respondent) owed them Rs. 2.83 cr for development-cum-maintenance work. The Appellant issued a Section 8 demand notice after allegedly not receiving payment. The Corporate Debtor claimed that all payments had been made. The Director of the Operational Creditor, Sunil Kumar, was previously the Managing Director of the Corporate Debtor. The Adjudicating Authority dismissed the Section 9 application, finding the Appellant's claim unsubstantiated and that the third invoice was hit by Section 10A of the IBC, which prohibits applications for defaults arising during a specific period of the COVID-19 pandemic. The invoices in question were dated
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Appellant issued…
Section 8 demand notice…
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code 2016 by Manishaas Infratecho Solutions Pvt. Ltd, arising from an order dated 05.03.2024 with a corrigendum dated 11.03.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata, Court-II) in CP (IB) 304/KB/2022. The Adjudicating Authority had dismissed Section 9 Application filed by the Appellant (Operational Creditor) and imposed a penalty of Rs. One Lakh. The Appellant claimed that they had provided development-cum-maintenance work to the Corporate Debtor, Bhonu Hulshi Real Estate, completed the work, raised invoices, and were owed Rs. 2.83 cr including interest. The Corporate Debtor claimed that all payments had been made.
Manishaas Infratecho Solutions Pvt. Ltd (Operational Creditor/Appellant) claimed that Bhonu Hulshi Real Estate (Corporate Debtor/Respondent) owed them Rs. 2.83 cr for development-cum-maintenance work. The Appellant issued a Section 8 demand notice after allegedly not receiving payment. The Corporate Debtor claimed that all payments had been made. The Director of the Operational Creditor, Sunil Kumar, was previously the Managing Director of the Corporate Debtor. The Adjudicating Authority dismissed the Section 9 application, finding the Appellant's claim unsubstantiated and that the third invoice was hit by Section 10A of the IBC, which prohibits applications for defaults arising during a specific period of the COVID-19 pandemic. The invoices in question were dated
…Appellant issued…
Section 8 demand notice…