Aramex India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench –IV initiated Corporate Insolvency Resolution Process against 'Salelink Ecom Private Limited' (Corporate Debtor) via an order dated 22nd October, 2019. The Appellant, Ramesh Murji Patel, challenged this order.
Aramex India Pvt. Ltd., the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Salelink Ecom Private Limited, the Corporate Debtor, by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (NCLT), Mumbai Bench, admitted the application via an order dated 22nd October, 2019. Ramesh Murji Patel, the Appellant, challenged this order. The Appellant argued that the Operational Creditor should not have honored consignments once the credit limit of Rs. 1 Lakh was exhausted and that the application under Section 9 was not signed by an authorized person, as the authorization was done in 2013. The debt owed to the Operational Creditor was more than Rs. 1 Lakh, and there was a default in
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Aramex India Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench –IV initiated Corporate Insolvency Resolution Process against 'Salelink Ecom Private Limited' (Corporate Debtor) via an order dated 22nd October, 2019. The Appellant, Ramesh Murji Patel, challenged this order.
Aramex India Pvt. Ltd., the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Salelink Ecom Private Limited, the Corporate Debtor, by filing an application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (NCLT), Mumbai Bench, admitted the application via an order dated 22nd October, 2019. Ramesh Murji Patel, the Appellant, challenged this order. The Appellant argued that the Operational Creditor should not have honored consignments once the credit limit of Rs. 1 Lakh was exhausted and that the application under Section 9 was not signed by an authorized person, as the authorization was done in 2013. The debt owed to the Operational Creditor was more than Rs. 1 Lakh, and there was a default in
…Client Services…
Insolvency and…