United Projects Constructions Limited ('Operational Creditor') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 for initiation of 'Corporate Insolvency Resolution Process' against Aerocon Buildwell Private Limited ('Corporate Debtor'). The application was dismissed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, leading to the present appeal. The Respondent had filed an objection claiming the existence of a dispute, arguing that the application under Section 9 of the I&B Code was not maintainable.
United Projects Constructions Limited, the 'Operational Creditor', initiated proceedings under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Aerocon Buildwell Private Limited, the 'Corporate Debtor'. The Adjudicating Authority dismissed the application. Aerocon Buildwell Pvt. Ltd. claimed the existence of a dispute. United Projects Constructions Ltd. argued that the letter presented by Aerocon Buildwell Pvt. Ltd. was manufactured after the insolvency application. The Adjudicating Authority's order was dated 31st July, 2017. The Appellate Tribunal found no record of 'existence of dispute'. The Respondent enclosed a letter dated 10th October, 2016, and an email, but the Tribunal found these insufficient to prove the existence of a dispute.
Sign in to view the parties.
The Appellant- United Projects Constructions…
The application was dismissed by the impugned…
United Projects Constructions Limited ('Operational Creditor') filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 for initiation of 'Corporate Insolvency Resolution Process' against Aerocon Buildwell Private Limited ('Corporate Debtor'). The application was dismissed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, Ahmedabad, leading to the present appeal. The Respondent had filed an objection claiming the existence of a dispute, arguing that the application under Section 9 of the I&B Code was not maintainable.
United Projects Constructions Limited, the 'Operational Creditor', initiated proceedings under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Aerocon Buildwell Private Limited, the 'Corporate Debtor'. The Adjudicating Authority dismissed the application. Aerocon Buildwell Pvt. Ltd. claimed the existence of a dispute. United Projects Constructions Ltd. argued that the letter presented by Aerocon Buildwell Pvt. Ltd. was manufactured after the insolvency application. The Adjudicating Authority's order was dated 31st July, 2017. The Appellate Tribunal found no record of 'existence of dispute'. The Respondent enclosed a letter dated 10th October, 2016, and an email, but the Tribunal found these insufficient to prove the existence of a dispute.
The Appellant- United Projects Constructions…
The application was dismissed by the impugned…