This case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) that admitted an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) filed by Agarwal Coal Corporation India Pvt. Ltd. (ACCPL) against Shri Tradco Deesan Private Limited, the Corporate Debtor. The appellant, a director of the Corporate Debtor, argued that the Adjudicating Authority should not have admitted the application due to pre-existing disputes and suspect invoices. The Corporate Debtor claimed that the Operational Creditor, ACCPL, had not supplied the goods for which the invoices were raised and that the claims were based on false accounts.
Rajratan Babulal Agarwal, a director of Shri Tradco Deesan Private Limited (the Corporate Debtor), filed an appeal against an order dated 2020-07-16 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) filed by Agarwal Coal Corporation India Pvt. Ltd. (ACCPL), the Operational Creditor. The Corporate Debtor claimed that it required high-grade imported coal for its boilers and that ACCPL was the supplier. The Corporate Debtor argued that ACCPL had not supplied the goods for which the invoices were raised and that the claims were based on false accounts. The Corporate Debtor also claimed that it had suffered losses due to short supplies and had quantified the losses at
…Sign in to view the parties.
Adjudicating Authority passed Impugned Order…
Appellant and Respondent No.1 – Operational…
This case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) that admitted an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) filed by Agarwal Coal Corporation India Pvt. Ltd. (ACCPL) against Shri Tradco Deesan Private Limited, the Corporate Debtor. The appellant, a director of the Corporate Debtor, argued that the Adjudicating Authority should not have admitted the application due to pre-existing disputes and suspect invoices. The Corporate Debtor claimed that the Operational Creditor, ACCPL, had not supplied the goods for which the invoices were raised and that the claims were based on false accounts.
Rajratan Babulal Agarwal, a director of Shri Tradco Deesan Private Limited (the Corporate Debtor), filed an appeal against an order dated 2020-07-16 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, which admitted an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) filed by Agarwal Coal Corporation India Pvt. Ltd. (ACCPL), the Operational Creditor. The Corporate Debtor claimed that it required high-grade imported coal for its boilers and that ACCPL was the supplier. The Corporate Debtor argued that ACCPL had not supplied the goods for which the invoices were raised and that the claims were based on false accounts. The Corporate Debtor also claimed that it had suffered losses due to short supplies and had quantified the losses at
…Adjudicating Authority passed Impugned Order…
Appellant and Respondent No.1 – Operational…