The case involves an application filed under Section 9 of the I&B Code, 2016, by Mr. Kamal Chand (the operational creditor) against M/s. Avadh Rail Infra Limited (the corporate debtor). The operational creditor's service was terminated by the respondent company, leading to a civil suit filed by the applicant in the High Court of Madras for compensation. The High Court decreed the suit in favor of the applicant, directing the respondent to pay a sum of Rs. 23,24,938.12 with interest. The corporate debtor filed a counter, stating they had filed an appeal in OSA No. 123 of 2012, with a condition that the respondent deposit Rs. 10 lakhs. The High Court stayed the order in CS No. 429/2000. The appeal was later dismissed for default, and a restoration petition was filed,
…Mr. Kamal Chand (Operational Creditor) filed an application under Section 9 of the I&B Code, 2016 against M/s. Avadh Rail Infra Limited (Corporate Debtor). The Operational Creditor's service was terminated by the Respondent Company, leading to a Civil Suit (C.S. No. 429/2000) in the High Court of Madras for compensation. The High Court decreed the suit on 07.06.2011, ordering the Respondent to pay Rs. 23,24,938.12 with interest. The Corporate Debtor filed an appeal (OSA No. 123 of 2012) with a condition to deposit Rs. 10 lakhs, resulting in a stay of the High Court's order. The appeal was dismissed for default, and a restoration petition is pending. The Applicant appropriated the Rs. 10 lakhs deposit. The Corporate Debtor denied the debt, claiming the application
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Applicant filed a Civil Suit in C.S. No.…
The High Court decreed the suit, directing the…
The case involves an application filed under Section 9 of the I&B Code, 2016, by Mr. Kamal Chand (the operational creditor) against M/s. Avadh Rail Infra Limited (the corporate debtor). The operational creditor's service was terminated by the respondent company, leading to a civil suit filed by the applicant in the High Court of Madras for compensation. The High Court decreed the suit in favor of the applicant, directing the respondent to pay a sum of Rs. 23,24,938.12 with interest. The corporate debtor filed a counter, stating they had filed an appeal in OSA No. 123 of 2012, with a condition that the respondent deposit Rs. 10 lakhs. The High Court stayed the order in CS No. 429/2000. The appeal was later dismissed for default, and a restoration petition was filed,
…Mr. Kamal Chand (Operational Creditor) filed an application under Section 9 of the I&B Code, 2016 against M/s. Avadh Rail Infra Limited (Corporate Debtor). The Operational Creditor's service was terminated by the Respondent Company, leading to a Civil Suit (C.S. No. 429/2000) in the High Court of Madras for compensation. The High Court decreed the suit on 07.06.2011, ordering the Respondent to pay Rs. 23,24,938.12 with interest. The Corporate Debtor filed an appeal (OSA No. 123 of 2012) with a condition to deposit Rs. 10 lakhs, resulting in a stay of the High Court's order. The appeal was dismissed for default, and a restoration petition is pending. The Applicant appropriated the Rs. 10 lakhs deposit. The Corporate Debtor denied the debt, claiming the application
…Applicant filed a Civil Suit in C.S. No.…
The High Court decreed the suit, directing the…