The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), New Delhi. The appellant, Rajesh Nagpal, an erstwhile director of M/s Straight Edge Contracts Pvt. Ltd., filed the appeal before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The dispute arose from unpaid dues for the supply of electrical fittings and components by the respondent, Gupta Ji Electric Company, to the appellant's company. The respondent had initiated Corporate Insolvency Resolution Process (CIRP) against the appellant's company due to the default in payment. The parties subsequently entered into a Memorandum of Understanding (MoU) to settle the dispute.
M/s Straight Edge Contracts Pvt. Ltd., through its director Rajesh Nagpal (Appellant), procured electrical fittings and components from Gupta Ji Electric Company (Respondent No. 1). An amount of Rs. 1,46,49,934/- became due from M/s Straight Edge Contracts Pvt. Ltd. to Gupta Ji Electric Company. Due to the default in payment, Gupta Ji Electric Company filed CP (IB) No. 1071 (ND) OF 2019 before the National Company Law Tribunal (NCLT), New Delhi, which was admitted on 26.02.2020. Aggrieved by the NCLT order, Rajesh Nagpal filed an appeal before the National Company Law Appellate Tribunal (NCLAT). During the pendency of the appeal, both parties entered into a Memorandum of Understanding (MoU) on 12th March 2020, wherein M/s Straight Edge Contracts Pvt. Ltd. agreed to pay
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Gupta Ji Electric Company filed CP (IB) No. 1071…
The National Company Law Tribunal (NCLT), New…
The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), New Delhi. The appellant, Rajesh Nagpal, an erstwhile director of M/s Straight Edge Contracts Pvt. Ltd., filed the appeal before the National Company Law Appellate Tribunal (NCLAT), New Delhi. The dispute arose from unpaid dues for the supply of electrical fittings and components by the respondent, Gupta Ji Electric Company, to the appellant's company. The respondent had initiated Corporate Insolvency Resolution Process (CIRP) against the appellant's company due to the default in payment. The parties subsequently entered into a Memorandum of Understanding (MoU) to settle the dispute.
M/s Straight Edge Contracts Pvt. Ltd., through its director Rajesh Nagpal (Appellant), procured electrical fittings and components from Gupta Ji Electric Company (Respondent No. 1). An amount of Rs. 1,46,49,934/- became due from M/s Straight Edge Contracts Pvt. Ltd. to Gupta Ji Electric Company. Due to the default in payment, Gupta Ji Electric Company filed CP (IB) No. 1071 (ND) OF 2019 before the National Company Law Tribunal (NCLT), New Delhi, which was admitted on 26.02.2020. Aggrieved by the NCLT order, Rajesh Nagpal filed an appeal before the National Company Law Appellate Tribunal (NCLAT). During the pendency of the appeal, both parties entered into a Memorandum of Understanding (MoU) on 12th March 2020, wherein M/s Straight Edge Contracts Pvt. Ltd. agreed to pay
…Gupta Ji Electric Company filed CP (IB) No. 1071…
The National Company Law Tribunal (NCLT), New…