The appeal was filed against the order passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) on 09.12.2021, which rejected the Appellant's application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Appellant claimed to be an Operational Creditor and had filed the application for a debt of Rs. 64,44,2706.00/- including interest. The Adjudicating Authority dismissed the application due to a 'pre-existing dispute' between the parties.
Mr. Anil J. Nemaavarkar, the Appellant, claimed to be an Operational Creditor of M/s. Kumar Builders Mumbai Realty Pvt. Ltd. (now known as M/s. Kumar Urban Development Pvt. Ltd.), the Respondent. The Appellant filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the corporate insolvency resolution process against the Respondent for a debt of Rs. 64,44,2706.00/- including interest. The Appellant claimed to be appointed Vice-President (Coordination) by the Corporate Debtor on 3rd June, 2013, and his services were terminated on 4th June, 2016. Prior to filing the Section 9 application on 4th June, 2019, the Appellant had filed various complaints against the Corporate Debtor, including a police complaint dated 6th June,
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The appeal was filed against the order passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) on 09.12.2021, which rejected the Appellant's application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Appellant claimed to be an Operational Creditor and had filed the application for a debt of Rs. 64,44,2706.00/- including interest. The Adjudicating Authority dismissed the application due to a 'pre-existing dispute' between the parties.
Mr. Anil J. Nemaavarkar, the Appellant, claimed to be an Operational Creditor of M/s. Kumar Builders Mumbai Realty Pvt. Ltd. (now known as M/s. Kumar Urban Development Pvt. Ltd.), the Respondent. The Appellant filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the corporate insolvency resolution process against the Respondent for a debt of Rs. 64,44,2706.00/- including interest. The Appellant claimed to be appointed Vice-President (Coordination) by the Corporate Debtor on 3rd June, 2013, and his services were terminated on 4th June, 2016. Prior to filing the Section 9 application on 4th June, 2019, the Appellant had filed various complaints against the Corporate Debtor, including a police complaint dated 6th June,
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Appellant's services…