This case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Chandigarh Bench, which dismissed an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The dispute originated from a sales contract between Durst Phototechnik (Supplier) and Hi Exports (Respondent) for the purchase of an industrial inkjet printer. The appellant, UniCredit S.P.A., is the assignee of the Supplier's rights. The NCLT dismissed the application based on the existence of a pre-existing dispute and issues with the service of the demand notice.
On March 20, 2017, Hi Exports (Respondent) and Durst Phototechnik (Supplier) entered into a sales contract for an industrial inkjet printer. The agreed delivery date was April 15, 2017, but the machine arrived on August 28, 2017. Upon receiving the machine, the Respondent discovered performance issues. The Corporate Debtor made a down payment of Euro 135,780.00 and issued six promissory notes dated May 11, 2017, for Euro 421,000.00. The Supplier assigned its contractual obligations to UniCredit S.P.A. on August 23, 2017. The Corporate Debtor made a payment on December 20, 2017, for Euro 72,666.67 against a promissory note. The Operational Creditor issued a demand notice on May 19, 2021, under Section 8(1) of the IBC. The NCLT dismissed the application under Section 9
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Hi Exports (Respondent) and Durst Phototechnik…
The agreed delivery…
This case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Chandigarh Bench, which dismissed an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC). The dispute originated from a sales contract between Durst Phototechnik (Supplier) and Hi Exports (Respondent) for the purchase of an industrial inkjet printer. The appellant, UniCredit S.P.A., is the assignee of the Supplier's rights. The NCLT dismissed the application based on the existence of a pre-existing dispute and issues with the service of the demand notice.
On March 20, 2017, Hi Exports (Respondent) and Durst Phototechnik (Supplier) entered into a sales contract for an industrial inkjet printer. The agreed delivery date was April 15, 2017, but the machine arrived on August 28, 2017. Upon receiving the machine, the Respondent discovered performance issues. The Corporate Debtor made a down payment of Euro 135,780.00 and issued six promissory notes dated May 11, 2017, for Euro 421,000.00. The Supplier assigned its contractual obligations to UniCredit S.P.A. on August 23, 2017. The Corporate Debtor made a payment on December 20, 2017, for Euro 72,666.67 against a promissory note. The Operational Creditor issued a demand notice on May 19, 2021, under Section 8(1) of the IBC. The NCLT dismissed the application under Section 9
…Hi Exports (Respondent) and Durst Phototechnik…
The agreed delivery…