The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Pawan Cargo Forwards (P) Ltd. (Operational Creditor) against M/s Bestways Transport (India) Ltd. (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted on payments for services rendered between 2011 and 2013. The corporate debtor argued that the claim was time-barred and that an email presented as an admission of debt was not authorized.
M/s Pawan Cargo Forwards (P) Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Bestways Transport (India) Ltd. (Corporate Debtor) for unpaid invoices. The corporate debtor was incorporated on 16.11.1983. The operational creditor provided services to the corporate debtor between 30.09.2011 and 15.05.2013. The total amount due was ₹5,32,61,032, including 24% interest per annum as of 01.03.2018. Demand notices were issued on 21.09.2015 and 25.10.2015. The corporate debtor acknowledged its liability via email dated 18.11.2015. The petition was filed on 13.11.2018. The corporate debtor contended that the claim was time-barred and that the email was not authorized. The operational creditor relied on the
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M/s Bestways Transport…
The operational creditor provided services to…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Pawan Cargo Forwards (P) Ltd. (Operational Creditor) against M/s Bestways Transport (India) Ltd. (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The operational creditor claimed that the corporate debtor defaulted on payments for services rendered between 2011 and 2013. The corporate debtor argued that the claim was time-barred and that an email presented as an admission of debt was not authorized.
M/s Pawan Cargo Forwards (P) Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Bestways Transport (India) Ltd. (Corporate Debtor) for unpaid invoices. The corporate debtor was incorporated on 16.11.1983. The operational creditor provided services to the corporate debtor between 30.09.2011 and 15.05.2013. The total amount due was ₹5,32,61,032, including 24% interest per annum as of 01.03.2018. Demand notices were issued on 21.09.2015 and 25.10.2015. The corporate debtor acknowledged its liability via email dated 18.11.2015. The petition was filed on 13.11.2018. The corporate debtor contended that the claim was time-barred and that the email was not authorized. The operational creditor relied on the
…M/s Bestways Transport…
The operational creditor provided services to…