The case involves an appeal against an order dated 25.10.2024, where the Appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, was dismissed. The Appellant, acting as an Operational Creditor, sought resolution against the Respondent, the Corporate Debtor, for an amount of ₹101,89,178.77. The dispute arose from three sale contracts for the delivery of soya bean, where the Appellant claimed the Respondent failed to deliver goods despite receiving advance payments. The Respondent contended that the Appellant neglected to take delivery of goods due to unfavorable market conditions, leading to a pre-existing dispute.
The Appellant, Straw Commodities LLP, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Respondent, Anram Agro Trading Pvt. Ltd., seeking resolution of a debt amounting to ₹101,89,178.77. The dispute stemmed from three sale contracts executed between the parties for the supply of soya bean. The Appellant claimed that the Respondent failed to deliver the goods despite receiving advance payments. The Respondent argued that the Appellant neglected to take delivery of the goods due to unfavorable market conditions and that a pre-existing dispute existed between the parties. The first contract (S00128/2021-2022) was for 440 MT of Tanzania Origin Soya Bean, with an extension (Contract 1-A, S00128A) for 228 MT. The second contract
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The case involves an appeal against an order dated 25.10.2024, where the Appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, was dismissed. The Appellant, acting as an Operational Creditor, sought resolution against the Respondent, the Corporate Debtor, for an amount of ₹101,89,178.77. The dispute arose from three sale contracts for the delivery of soya bean, where the Appellant claimed the Respondent failed to deliver goods despite receiving advance payments. The Respondent contended that the Appellant neglected to take delivery of goods due to unfavorable market conditions, leading to a pre-existing dispute.
The Appellant, Straw Commodities LLP, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the Respondent, Anram Agro Trading Pvt. Ltd., seeking resolution of a debt amounting to ₹101,89,178.77. The dispute stemmed from three sale contracts executed between the parties for the supply of soya bean. The Appellant claimed that the Respondent failed to deliver the goods despite receiving advance payments. The Respondent argued that the Appellant neglected to take delivery of the goods due to unfavorable market conditions and that a pre-existing dispute existed between the parties. The first contract (S00128/2021-2022) was for 440 MT of Tanzania Origin Soya Bean, with an extension (Contract 1-A, S00128A) for 228 MT. The second contract
…The Appellant and…
The Appellant and…