The case involves an appeal against the admission of an application filed by Ricela Health Foods Limited (Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) against Evershine Solvex Private Limited (Corporate Debtor). The application was admitted based on an ex-parte order against the Corporate Debtor. The Corporate Debtor filed I.A. No. 283 of 2020 under Section 60(5) of the I&B Code read with Rules 11, 49, 110 of NCLT Rules, 2016 for setting aside of the same. The Corporate Debtor's contention was that the service of notice was invalid.
Ricela Health Foods Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Evershine Solvex Private Limited. The application was admitted ex-parte on February 27, 2020, after the Corporate Debtor was set ex-parte on February 17, 2020. The Corporate Debtor filed I.A. No. 283 of 2020 seeking to set aside the ex-parte order, which was dismissed on December 15, 2020. The Corporate Debtor argued that the service of notice was invalid. The Adjudicating Authority relied on the tracking report of the Postal Department, which confirmed delivery of notice. The Appellant argued that the application under Section 9 was not maintainable and that the Respondent was not an Operational Creditor. The outstanding liability was Rs.27 Lakhs, but
…Sign in to view the parties.
Demand notice was…
The Adjudicating…
The case involves an appeal against the admission of an application filed by Ricela Health Foods Limited (Respondent) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) against Evershine Solvex Private Limited (Corporate Debtor). The application was admitted based on an ex-parte order against the Corporate Debtor. The Corporate Debtor filed I.A. No. 283 of 2020 under Section 60(5) of the I&B Code read with Rules 11, 49, 110 of NCLT Rules, 2016 for setting aside of the same. The Corporate Debtor's contention was that the service of notice was invalid.
Ricela Health Foods Limited filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Evershine Solvex Private Limited. The application was admitted ex-parte on February 27, 2020, after the Corporate Debtor was set ex-parte on February 17, 2020. The Corporate Debtor filed I.A. No. 283 of 2020 seeking to set aside the ex-parte order, which was dismissed on December 15, 2020. The Corporate Debtor argued that the service of notice was invalid. The Adjudicating Authority relied on the tracking report of the Postal Department, which confirmed delivery of notice. The Appellant argued that the application under Section 9 was not maintainable and that the Respondent was not an Operational Creditor. The outstanding liability was Rs.27 Lakhs, but
…Demand notice was…
The Adjudicating…