The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by S.A. Consultants & Forwarders Private Limited, claiming to be an operational creditor, against Cargo Planners Limited, the corporate debtor. The operational creditor alleges a default in payment for services rendered. The corporate debtor has raised a dispute, citing a pending complaint under Sections 138 and 139 read with Sections 141 and 142 of the Negotiable Instruments Act, 1881. The operational creditor denies the existence of any dispute and relies on an order of the Appellate Tribunal.
S.A. Consultants & Forwarders Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Cargo Planners Limited, claiming to be an operational creditor. Cargo Planners Limited was incorporated on 22.09.2000. The operational creditor claimed that it had rendered AIR Freight Services to the corporate debtor and had raised various invoices from 13.12.2017 to 31.01.2018. The total amount in default was Rs. 1,21,72,597/-, inclusive of interest at 24% per annum. The operational creditor served a demand notice to the corporate debtor on 08.03.2019. The corporate debtor filed a reply, stating that a complaint under Sections 138 and 139 read with Sections 141 and 142 of the Negotiable Instruments Act, 1881, was pending
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Cargo Planners…
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by S.A. Consultants & Forwarders Private Limited, claiming to be an operational creditor, against Cargo Planners Limited, the corporate debtor. The operational creditor alleges a default in payment for services rendered. The corporate debtor has raised a dispute, citing a pending complaint under Sections 138 and 139 read with Sections 141 and 142 of the Negotiable Instruments Act, 1881. The operational creditor denies the existence of any dispute and relies on an order of the Appellate Tribunal.
S.A. Consultants & Forwarders Private Limited filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Cargo Planners Limited, claiming to be an operational creditor. Cargo Planners Limited was incorporated on 22.09.2000. The operational creditor claimed that it had rendered AIR Freight Services to the corporate debtor and had raised various invoices from 13.12.2017 to 31.01.2018. The total amount in default was Rs. 1,21,72,597/-, inclusive of interest at 24% per annum. The operational creditor served a demand notice to the corporate debtor on 08.03.2019. The corporate debtor filed a reply, stating that a complaint under Sections 138 and 139 read with Sections 141 and 142 of the Negotiable Instruments Act, 1881, was pending
…Cargo Planners…
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