This case involves an appeal against an order dated 06th May, 2021, passed by the National Company Law Tribunal (NCLT), Mumbai Bench, Court-V, in C.P. (IB) 424/MB/2020. The NCLT had dismissed an application filed by the Appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Appellant, M/s. G.L. Engineering Industries Pvt. Ltd., claimed that the Respondent, Supreme Engineering Ltd., owed them an operational debt. The NCLT dismissed the application, stating that the Appellant failed to provide sufficient evidence of any services rendered or amounts 'due and payable'.
M/s. G.L. Engineering Industries Pvt. Ltd. (Appellant) claimed that Supreme Engineering Ltd. (Respondent) owed them an operational debt. The Appellant supplied steel material to the Respondent since October 2013. Payments were made according to mutually agreed terms, including delayed payment charges. The last sale invoice was dated 23/01/2018 for Rs.3,26,45,901.32/-, and the Respondent made a payment of Rs.1 Crore in January 2019. The Respondent issued several cheques between 13/02/2018 and 24/11/2018 but requested the Appellant not to deposit them. Later, fresh cheques were issued. A letter dated 15/05/2019 confirmed a liability of Rs.4 Crores, conditional on delayed deposit. A cheque dated 16/05/2019 for Rs.4 Crores was issued. A letter dated 30/05/2019 confirmed a
…Sign in to view the parties.
Appellant started…
Last sale invoice…
This case involves an appeal against an order dated 06th May, 2021, passed by the National Company Law Tribunal (NCLT), Mumbai Bench, Court-V, in C.P. (IB) 424/MB/2020. The NCLT had dismissed an application filed by the Appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Appellant, M/s. G.L. Engineering Industries Pvt. Ltd., claimed that the Respondent, Supreme Engineering Ltd., owed them an operational debt. The NCLT dismissed the application, stating that the Appellant failed to provide sufficient evidence of any services rendered or amounts 'due and payable'.
M/s. G.L. Engineering Industries Pvt. Ltd. (Appellant) claimed that Supreme Engineering Ltd. (Respondent) owed them an operational debt. The Appellant supplied steel material to the Respondent since October 2013. Payments were made according to mutually agreed terms, including delayed payment charges. The last sale invoice was dated 23/01/2018 for Rs.3,26,45,901.32/-, and the Respondent made a payment of Rs.1 Crore in January 2019. The Respondent issued several cheques between 13/02/2018 and 24/11/2018 but requested the Appellant not to deposit them. Later, fresh cheques were issued. A letter dated 15/05/2019 confirmed a liability of Rs.4 Crores, conditional on delayed deposit. A cheque dated 16/05/2019 for Rs.4 Crores was issued. A letter dated 30/05/2019 confirmed a
…Appellant started…
Last sale invoice…