This case involves an appeal against an order dated 15.07.2020 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench Court-V) in Company Petition (IB) No. 2817/ND/2019. The appellant, Trafigura India Private Limited, filed the appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, being aggrieved by the Adjudicating Authority's order. The dispute arose from a Master Sale Agreement (MSA) dated 27.01.2016 between Trafigura and TDT Copper Limited, where Trafigura agreed to sell copper cathodes to TDT. TDT allegedly failed to make payments as per the MSA, leading to a Settlement Agreement on 20.11.2018. Despite the settlement, TDT allegedly defaulted on payments, prompting Trafigura to issue a demand notice and subsequently file
…Trafigura India Private Limited (Appellant) and TDT Copper Limited (Respondent) entered into a Master Sale Agreement (MSA) on 27.01.2016, where Trafigura agreed to sell copper cathodes to TDT. The terms of the MSA governed the rights and obligations of both parties. TDT was required to place purchase orders regularly, and Trafigura was obligated to supply the material as specified in those orders. Trafigura would raise invoices for the material supplied, and TDT was required to pay within 30 days of the invoice date, with interest applicable for late payments. TDT failed to make payments according to the MSA, leading to discussions and a Settlement Agreement on 20.11.2018. The Settlement Agreement extended the MSA terms to 31.12.2018 and provided for a full and final
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Trafigura and TDT Copper entered into a Master…
Parties entered into a Settlement Agreement due…
This case involves an appeal against an order dated 15.07.2020 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench Court-V) in Company Petition (IB) No. 2817/ND/2019. The appellant, Trafigura India Private Limited, filed the appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, being aggrieved by the Adjudicating Authority's order. The dispute arose from a Master Sale Agreement (MSA) dated 27.01.2016 between Trafigura and TDT Copper Limited, where Trafigura agreed to sell copper cathodes to TDT. TDT allegedly failed to make payments as per the MSA, leading to a Settlement Agreement on 20.11.2018. Despite the settlement, TDT allegedly defaulted on payments, prompting Trafigura to issue a demand notice and subsequently file
…Trafigura India Private Limited (Appellant) and TDT Copper Limited (Respondent) entered into a Master Sale Agreement (MSA) on 27.01.2016, where Trafigura agreed to sell copper cathodes to TDT. The terms of the MSA governed the rights and obligations of both parties. TDT was required to place purchase orders regularly, and Trafigura was obligated to supply the material as specified in those orders. Trafigura would raise invoices for the material supplied, and TDT was required to pay within 30 days of the invoice date, with interest applicable for late payments. TDT failed to make payments according to the MSA, leading to discussions and a Settlement Agreement on 20.11.2018. The Settlement Agreement extended the MSA terms to 31.12.2018 and provided for a full and final
…Trafigura and TDT Copper entered into a Master…
Parties entered into a Settlement Agreement due…