The Appellant, Smart Timing Steel Ltd., filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against National Steel & Agro Industries Ltd. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai, rejected the application on October 31, 2018, because a copy of the certificate from the Financial institution reflecting non-payment of the operational debt had not been filed. The Demand Notice was issued on December 23, 2016, demanding payment of the amounts involved in default to the Corporate Debtor. The Operational Creditor filed a Petition 06/I&BP/NCLT/MAH/2017 before the Adjudicating Authority under Section 9. The Adjudicating Authority rejected the
…Smart Timing Steel Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against National Steel & Agro Industries Ltd. (Corporate Debtor). The Adjudicating Authority, Mumbai Bench, rejected the application on October 31, 2018, because a certificate from the Financial institution reflecting non-payment of the operational debt was not filed. A Demand Notice was issued on December 23, 2016, for payment of the amounts in default. The Operational Creditor had previously filed a Petition 06/I&BP/NCLT/MAH/2017 under Section 9, but the Adjudicating Authority rejected the claim on January 30, 2017, due to the Operational Creditor's failure to produce the
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The Appellant, Smart Timing Steel Ltd., filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process against National Steel & Agro Industries Ltd. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Mumbai, rejected the application on October 31, 2018, because a copy of the certificate from the Financial institution reflecting non-payment of the operational debt had not been filed. The Demand Notice was issued on December 23, 2016, demanding payment of the amounts involved in default to the Corporate Debtor. The Operational Creditor filed a Petition 06/I&BP/NCLT/MAH/2017 before the Adjudicating Authority under Section 9. The Adjudicating Authority rejected the
…Smart Timing Steel Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process against National Steel & Agro Industries Ltd. (Corporate Debtor). The Adjudicating Authority, Mumbai Bench, rejected the application on October 31, 2018, because a certificate from the Financial institution reflecting non-payment of the operational debt was not filed. A Demand Notice was issued on December 23, 2016, for payment of the amounts in default. The Operational Creditor had previously filed a Petition 06/I&BP/NCLT/MAH/2017 under Section 9, but the Adjudicating Authority rejected the claim on January 30, 2017, due to the Operational Creditor's failure to produce the
…Demand Notice was issued demanding payment of…
The Adjudicating Authority rejected the claim…