This case involves an appeal filed by P.K. Ores Private Limited (Corporate Debtor) against an order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) on April 3, 2017. The Adjudicating Authority had admitted an application filed by Tractors India Private Limited (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code (I&B Code) for initiating the Corporate Resolution Process against P.K. Ores Private Limited. The Corporate Debtor contends that the order was passed in violation of the rules of natural justice, without any notice or opportunity to be heard. The Corporate Debtor also claims the existence of a dispute with the Operational Creditor.
P.K. Ores Private Limited (Corporate Debtor) faced a corporate insolvency resolution process initiated by Tractors India Private Limited (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) admitted the application on April 3, 2017, without providing notice to the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor failed to pay Rs. 9,76,095 despite a notice dated January 17, 2017. The Corporate Debtor argued that there was an 'existence of dispute' regarding the quality of goods supplied by the Operational Creditor, specifically concerning a Caterpillar Engine (CAT 6.6) that was not functioning properly after installation. The Corporate
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This case involves an appeal filed by P.K. Ores Private Limited (Corporate Debtor) against an order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) on April 3, 2017. The Adjudicating Authority had admitted an application filed by Tractors India Private Limited (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code (I&B Code) for initiating the Corporate Resolution Process against P.K. Ores Private Limited. The Corporate Debtor contends that the order was passed in violation of the rules of natural justice, without any notice or opportunity to be heard. The Corporate Debtor also claims the existence of a dispute with the Operational Creditor.
P.K. Ores Private Limited (Corporate Debtor) faced a corporate insolvency resolution process initiated by Tractors India Private Limited (Operational Creditor) under Section 9 of the Insolvency & Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) admitted the application on April 3, 2017, without providing notice to the Corporate Debtor. The Operational Creditor claimed that the Corporate Debtor failed to pay Rs. 9,76,095 despite a notice dated January 17, 2017. The Corporate Debtor argued that there was an 'existence of dispute' regarding the quality of goods supplied by the Operational Creditor, specifically concerning a Caterpillar Engine (CAT 6.6) that was not functioning properly after installation. The Corporate
…Tractors India Private Limited (Operational…
P.K. Ores Private Limited replies to the…