This case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal) that rejected an application filed by Sudhir Sales & Services Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) for initiating a Corporate Insolvency Resolution Process against D-Art Furniture Systems Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority rejected the application based on the existence of a dispute. The appellant argues that no dispute exists and that the Adjudicating Authority wrongly considered unrelated communications. The respondent contends that a dispute exists, as evidenced by a letter dated 13th November 2013, and has questioned the quality of materials supplied by the appellant.
Sudhir Sales & Services Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against D-Art Furniture Systems Pvt. Ltd. (Corporate Debtor). The application was based on unpaid dues related to a contract for the supply, installation, maintenance, and removal of Gen sets for the Commonwealth Games 2010 in Delhi. The initial contract value was Rs. 1,62,49,360.00, later increased to Rs. 1,93,20,620.00. The Operational Creditor raised invoices for Rs. 2,89,41,684.00, against which Rs. 28,65,776.00 in credit notes were issued, resulting in a net invoice value of Rs. 2,60,75,908.00. The Corporate Debtor paid Rs. 1,99,05,742.00, leaving a balance of Rs. 61,70,161.00,
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Contract reached between D-Art Furniture…
The total contract value agreed between the…
This case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal) that rejected an application filed by Sudhir Sales & Services Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) for initiating a Corporate Insolvency Resolution Process against D-Art Furniture Systems Pvt. Ltd. (Corporate Debtor). The Adjudicating Authority rejected the application based on the existence of a dispute. The appellant argues that no dispute exists and that the Adjudicating Authority wrongly considered unrelated communications. The respondent contends that a dispute exists, as evidenced by a letter dated 13th November 2013, and has questioned the quality of materials supplied by the appellant.
Sudhir Sales & Services Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against D-Art Furniture Systems Pvt. Ltd. (Corporate Debtor). The application was based on unpaid dues related to a contract for the supply, installation, maintenance, and removal of Gen sets for the Commonwealth Games 2010 in Delhi. The initial contract value was Rs. 1,62,49,360.00, later increased to Rs. 1,93,20,620.00. The Operational Creditor raised invoices for Rs. 2,89,41,684.00, against which Rs. 28,65,776.00 in credit notes were issued, resulting in a net invoice value of Rs. 2,60,75,908.00. The Corporate Debtor paid Rs. 1,99,05,742.00, leaving a balance of Rs. 61,70,161.00,
…Contract reached between D-Art Furniture…
The total contract value agreed between the…