The appeal was directed against an order dated 11.11.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Jaipur Bench) in CA (IB) No.324/9/JPR/2019, which admitted an application filed by the Operational Creditor/Respondent No.1 under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Appellant (Corporate Debtor) had invited tenders for various works in 2015. The Respondent No.1, being the Successful Bidder, was awarded the contract on 04.12.2015, which was accepted by the Appellant on the same date via email. Subsequently, the Corporate Debtor issued various purchase orders dated 28.12.2015, 29.12.2015, and 23.12.2015, totaling Rs. 5,38,50,590/-.
Rajasthan Drugs and Pharmaceuticals Ltd. (Appellant), a Corporate Debtor, invited tenders for various works in 2015. ATE Project Pvt. Ltd. (Respondent No.1) was the successful bidder and was awarded the contract on 04.12.2015, which the Appellant accepted via email. The Corporate Debtor issued purchase orders worth Rs. 5,38,50,590/-. Respondent No.1 deposited security and started work. A letter dated 17.01.2017, issued by the Government of India on 09.01.2017, announced the shutdown of the Corporate Debtor, stopping work. Respondent No.1 was assured that outstanding liabilities would be cleared. The Appellant requested total outstanding dues. Respondent No.1 submitted details of Rs. 1,80,36,531/- accrued as of 26.03.2017. Respondent No.1 sent a legal notice on
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The Appellant…
The Respondent No.1 was awarded the contract,…
The appeal was directed against an order dated 11.11.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Jaipur Bench) in CA (IB) No.324/9/JPR/2019, which admitted an application filed by the Operational Creditor/Respondent No.1 under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Appellant (Corporate Debtor) had invited tenders for various works in 2015. The Respondent No.1, being the Successful Bidder, was awarded the contract on 04.12.2015, which was accepted by the Appellant on the same date via email. Subsequently, the Corporate Debtor issued various purchase orders dated 28.12.2015, 29.12.2015, and 23.12.2015, totaling Rs. 5,38,50,590/-.
Rajasthan Drugs and Pharmaceuticals Ltd. (Appellant), a Corporate Debtor, invited tenders for various works in 2015. ATE Project Pvt. Ltd. (Respondent No.1) was the successful bidder and was awarded the contract on 04.12.2015, which the Appellant accepted via email. The Corporate Debtor issued purchase orders worth Rs. 5,38,50,590/-. Respondent No.1 deposited security and started work. A letter dated 17.01.2017, issued by the Government of India on 09.01.2017, announced the shutdown of the Corporate Debtor, stopping work. Respondent No.1 was assured that outstanding liabilities would be cleared. The Appellant requested total outstanding dues. Respondent No.1 submitted details of Rs. 1,80,36,531/- accrued as of 26.03.2017. Respondent No.1 sent a legal notice on
…The Appellant…
The Respondent No.1 was awarded the contract,…