Naik Environmental Engineers Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) before the Adjudicating Authority (National Company Law Tribunal, New Delhi Court No.IV) against Lucina Land Development Ltd. The application was dismissed due to the pre-existence of a dispute. Naik Environmental Engineers Pvt. Ltd. then filed an appeal against this dismissal.
Naik Environmental Engineers Pvt. Ltd. (Appellant) supplied Organic Waste Compositing Machines (OWC) to Lucina Land Development Ltd. (Respondent). The Appellant claimed that the Respondent placed a purchase order for a machine worth Rs.10,60,000/- on October 4, 2016, which was delivered on October 24, 2016. A second invoice related to two machines was placed on November 16, 2016, and delivered on February 6, 2017, with a bill raised for Rs.20,14,000/-. The Appellant stated that the purchase order required 10% advance, 70% at delivery, 10% at installation, and 10% at commissioning. The Appellant claimed that only Rs.6,92,000/- was paid on June 2, 2017, amounting to 65% of the first invoice. The Appellant also claimed that nothing was paid for the second purchase order.
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Naik Environmental Engineers Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) before the Adjudicating Authority (National Company Law Tribunal, New Delhi Court No.IV) against Lucina Land Development Ltd. The application was dismissed due to the pre-existence of a dispute. Naik Environmental Engineers Pvt. Ltd. then filed an appeal against this dismissal.
Naik Environmental Engineers Pvt. Ltd. (Appellant) supplied Organic Waste Compositing Machines (OWC) to Lucina Land Development Ltd. (Respondent). The Appellant claimed that the Respondent placed a purchase order for a machine worth Rs.10,60,000/- on October 4, 2016, which was delivered on October 24, 2016. A second invoice related to two machines was placed on November 16, 2016, and delivered on February 6, 2017, with a bill raised for Rs.20,14,000/-. The Appellant stated that the purchase order required 10% advance, 70% at delivery, 10% at installation, and 10% at commissioning. The Appellant claimed that only Rs.6,92,000/- was paid on June 2, 2017, amounting to 65% of the first invoice. The Appellant also claimed that nothing was paid for the second purchase order.
…Respondent placed the…
The machine from the…