The appeal was filed against the order dated 21st March 2022, by which the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the appellant was rejected. The rejection was based on the observation that there was a pre-existing dispute between the parties.
Shree Ram Cargo Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was rejected by the Adjudicating Authority due to a pre-existing dispute. The Adjudicating Authority relied on a letter dated 29th January 2018, which the Appellant claims was forged. The Corporate Debtor, Rajat Ispat Pvt. Ltd., stated in a letter dated 10.01.2018 that the goods supplied by JSPL against a back-to-back arrangement were of substandard quality. The Operational Creditor stated they would cancel the back-to-back arrangements and make claims against JSPL, assuring that the Corporate Debtor would have no liability. A demand notice was issued on 06th August 2019, and the Corporate Debtor replied on 28th August 2019, stating that the arrangement was
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Order passed by the Adjudicating Authority…
Heard Learned…
The appeal was filed against the order dated 21st March 2022, by which the application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the appellant was rejected. The rejection was based on the observation that there was a pre-existing dispute between the parties.
Shree Ram Cargo Pvt. Ltd. filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, which was rejected by the Adjudicating Authority due to a pre-existing dispute. The Adjudicating Authority relied on a letter dated 29th January 2018, which the Appellant claims was forged. The Corporate Debtor, Rajat Ispat Pvt. Ltd., stated in a letter dated 10.01.2018 that the goods supplied by JSPL against a back-to-back arrangement were of substandard quality. The Operational Creditor stated they would cancel the back-to-back arrangements and make claims against JSPL, assuring that the Corporate Debtor would have no liability. A demand notice was issued on 06th August 2019, and the Corporate Debtor replied on 28th August 2019, stating that the arrangement was
…Order passed by the Adjudicating Authority…
Heard Learned…