M/s. Consolidated Construction Consortium Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against M/s. Hitro Energy Solutions Private Limited. The Adjudicating Authority (National Company Law Tribunal), Chennai, admitted the application via an order dated December 6, 2018. Mr. N.S. Rangachari, a shareholder of M/s. Hitro Energy Solutions Private Limited, appealed this decision.
Consolidated Construction Consortium Limited, claiming to be an operational creditor, initiated CIRP against Hitro Energy Solutions Private Limited under Section 9 of IBC. The Adjudicating Authority admitted the application. N.S. Rangachari, a shareholder of Hitro Energy Solutions Private Limited, appealed the admission order. The appellant argued that Hitro Energy Solutions Private Limited is not the corporate debtor of the operational creditor. The appellant also submitted that the operational creditor issued purchase orders for supply of material to Hitro Energy Solutions, which is a separate company. The appellant further contended that neither goods nor services were supplied to Hitro Energy Solutions Private Limited. The appellant also argued that the application
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M/s. Hitro Energy Solutions Private Limited…
Purchase Orders were issued on 24th June,…
M/s. Consolidated Construction Consortium Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against M/s. Hitro Energy Solutions Private Limited. The Adjudicating Authority (National Company Law Tribunal), Chennai, admitted the application via an order dated December 6, 2018. Mr. N.S. Rangachari, a shareholder of M/s. Hitro Energy Solutions Private Limited, appealed this decision.
Consolidated Construction Consortium Limited, claiming to be an operational creditor, initiated CIRP against Hitro Energy Solutions Private Limited under Section 9 of IBC. The Adjudicating Authority admitted the application. N.S. Rangachari, a shareholder of Hitro Energy Solutions Private Limited, appealed the admission order. The appellant argued that Hitro Energy Solutions Private Limited is not the corporate debtor of the operational creditor. The appellant also submitted that the operational creditor issued purchase orders for supply of material to Hitro Energy Solutions, which is a separate company. The appellant further contended that neither goods nor services were supplied to Hitro Energy Solutions Private Limited. The appellant also argued that the application
…M/s. Hitro Energy Solutions Private Limited…
Purchase Orders were issued on 24th June,…