This case involves an appeal against an order dated December 18, 2019, passed by the National Company Law Tribunal (NCLT), Mumbai Bench, in a Miscellaneous Application related to a Company Petition under the Insolvency and Bankruptcy Code (IBC). The appellant, Tata Consultancy Services Limited, had entered into a facilities agreement with the corporate debtor, S.K. Wheels Private Limited. Disputes arose, leading to the appellant issuing a termination notice. The respondent, the Resolution Professional, filed an application before the NCLT seeking a stay of the termination notice. The NCLT granted an interim stay, which the appellant challenged in this appeal.
Tata Consultancy Services Limited (TCS) entered into a Facilities Agreement with S.K. Wheels Private Limited (Corporate Debtor) on December 1, 2016, where S.K. Wheels was to provide facilities like premises, computers, internet, etc., to TCS. TCS alleged that S.K. Wheels failed to remedy contractual breaches, leading TCS to issue a termination notice on June 10, 2019, under Clause 11(b) of the Facilities Agreement. The Resolution Professional (RP) of S.K. Wheels filed an application before the NCLT seeking a stay of the termination notice. The NCLT granted an interim stay on December 18, 2019. TCS claims the NCLT failed to appreciate the arbitration agreement in Clause 12(d) and that a valid termination notice was issued. S.K. Wheels argued that TCS did not provide
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The Corporate Debtor…
This case involves an appeal against an order dated December 18, 2019, passed by the National Company Law Tribunal (NCLT), Mumbai Bench, in a Miscellaneous Application related to a Company Petition under the Insolvency and Bankruptcy Code (IBC). The appellant, Tata Consultancy Services Limited, had entered into a facilities agreement with the corporate debtor, S.K. Wheels Private Limited. Disputes arose, leading to the appellant issuing a termination notice. The respondent, the Resolution Professional, filed an application before the NCLT seeking a stay of the termination notice. The NCLT granted an interim stay, which the appellant challenged in this appeal.
Tata Consultancy Services Limited (TCS) entered into a Facilities Agreement with S.K. Wheels Private Limited (Corporate Debtor) on December 1, 2016, where S.K. Wheels was to provide facilities like premises, computers, internet, etc., to TCS. TCS alleged that S.K. Wheels failed to remedy contractual breaches, leading TCS to issue a termination notice on June 10, 2019, under Clause 11(b) of the Facilities Agreement. The Resolution Professional (RP) of S.K. Wheels filed an application before the NCLT seeking a stay of the termination notice. The NCLT granted an interim stay on December 18, 2019. TCS claims the NCLT failed to appreciate the arbitration agreement in Clause 12(d) and that a valid termination notice was issued. S.K. Wheels argued that TCS did not provide
…The Corporate Debtor…
The Corporate Debtor…