M/s APL Apollo Tubes Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Tanisha Scaffolding (India) Pvt Ltd (Corporate Debtor) for an alleged operational debt of ₹30,43,360/-. The petition was initially dismissed by the Adjudicating Authority on 05.09.2019 due to the Operational Creditor's failure to establish debt and default. The Operational Creditor appealed to the NCLAT, Chennai, which set aside the dismissal order on 11.06.2024 and remanded the matter for fresh consideration, noting that uncontroverted pleadings could be deemed admitted.
M/s APL Apollo Tubes Ltd (Operational Creditor) filed a Company Petition under Section 9 of the IBC, 2016, against M/s Tanisha Scaffolding (India) Pvt Ltd (Corporate Debtor).
The petition sought initiation of Corporate Insolvency Resolution Process (CIRP) for an alleged operational debt of ₹30,43,360/-.
The Adjudicating Authority initially dismissed the petition on 05.09.2019, finding that the Operational Creditor failed to establish the existence of debt and default, lacked purchase orders, and could not substantiate delivery and acceptance of goods.
The Operational Creditor appealed to the NCLAT (TA (AT) No. 206/2021).
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Operational Creditor issued a demand notice…
The demand notice issued by the Operational…
M/s APL Apollo Tubes Ltd (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) against M/s Tanisha Scaffolding (India) Pvt Ltd (Corporate Debtor) for an alleged operational debt of ₹30,43,360/-. The petition was initially dismissed by the Adjudicating Authority on 05.09.2019 due to the Operational Creditor's failure to establish debt and default. The Operational Creditor appealed to the NCLAT, Chennai, which set aside the dismissal order on 11.06.2024 and remanded the matter for fresh consideration, noting that uncontroverted pleadings could be deemed admitted.
M/s APL Apollo Tubes Ltd (Operational Creditor) filed a Company Petition under Section 9 of the IBC, 2016, against M/s Tanisha Scaffolding (India) Pvt Ltd (Corporate Debtor).
The petition sought initiation of Corporate Insolvency Resolution Process (CIRP) for an alleged operational debt of ₹30,43,360/-.
The Adjudicating Authority initially dismissed the petition on 05.09.2019, finding that the Operational Creditor failed to establish the existence of debt and default, lacked purchase orders, and could not substantiate delivery and acceptance of goods.
The Operational Creditor appealed to the NCLAT (TA (AT) No. 206/2021).
…Operational Creditor issued a demand notice…
The demand notice issued by the Operational…