The appeal arises from an order dated 12.06.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench) in C.P. (IB) No. 29/9/MP/2020, which admitted a Section 9 application filed by Respondent No. 2, an Operational Creditor, and initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Appellant, an ex-Director of the Corporate Debtor, has preferred this appeal.
The Operational Creditor, Haji Shahadat & Sons, claimed that the Corporate Debtor, Steelexpert Industries (Indore) Ltd., failed to clear the entire outstanding amount despite repeated requests.
A Demand Notice under Section 8 of IBC was issued on 17.10.2019, and the Corporate Debtor responded with a Notice of Dispute on 26.10.2019.
The Operational Creditor filed two separate applications under Section 9 of the IBC.
The Operational Creditor claimed a debt of Rs 2,32,98,535/-, comprising of Rs 1,56,44,009/- towards supplies made and Rs 76,54,526/- towards interest.
The Corporate Debtor claimed to have made cash payments to the Operational Creditor, supported by cash receipts.
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Operational Creditor…
Corporate Debtor…
The appeal arises from an order dated 12.06.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Indore Bench) in C.P. (IB) No. 29/9/MP/2020, which admitted a Section 9 application filed by Respondent No. 2, an Operational Creditor, and initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Appellant, an ex-Director of the Corporate Debtor, has preferred this appeal.
The Operational Creditor, Haji Shahadat & Sons, claimed that the Corporate Debtor, Steelexpert Industries (Indore) Ltd., failed to clear the entire outstanding amount despite repeated requests.
A Demand Notice under Section 8 of IBC was issued on 17.10.2019, and the Corporate Debtor responded with a Notice of Dispute on 26.10.2019.
The Operational Creditor filed two separate applications under Section 9 of the IBC.
The Operational Creditor claimed a debt of Rs 2,32,98,535/-, comprising of Rs 1,56,44,009/- towards supplies made and Rs 76,54,526/- towards interest.
The Corporate Debtor claimed to have made cash payments to the Operational Creditor, supported by cash receipts.
…Operational Creditor…
Corporate Debtor…