The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Brasher Boot Company Ltd (Operational Creditor) against Forward Shoes India Pvt Ltd (Corporate Debtor). The Operational Creditor claimed a default in payment of a debt decreed by the Court of Madras. The Corporate Debtor acknowledged the debt but sought time for payment, which was not fulfilled. The Operational Creditor filed an affidavit stating that they had not received any notice of dispute or appeal regarding the decree.
Brasher Boot Company Ltd (Operational Creditor) filed an application against Forward Shoes India Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming default in payment of debt. The Operational Creditor had obtained a decree of GBP 48000 with 18% interest from December 8, 2014, from the Court of Madras. The Corporate Debtor acknowledged the debt and sought time for payment, but no payment was made. The Operational Creditor sent a communication on July 13, 2015, demanding the decretal amount, and the Corporate Debtor agreed to pay on July 28, 2015, with a condition to withdraw legal proceedings. The Operational Creditor filed an affidavit on June 16, 2017, stating that they had not received any notice of dispute or appeal
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The petitioner obtained…
The Operational…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Brasher Boot Company Ltd (Operational Creditor) against Forward Shoes India Pvt Ltd (Corporate Debtor). The Operational Creditor claimed a default in payment of a debt decreed by the Court of Madras. The Corporate Debtor acknowledged the debt but sought time for payment, which was not fulfilled. The Operational Creditor filed an affidavit stating that they had not received any notice of dispute or appeal regarding the decree.
Brasher Boot Company Ltd (Operational Creditor) filed an application against Forward Shoes India Pvt Ltd (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming default in payment of debt. The Operational Creditor had obtained a decree of GBP 48000 with 18% interest from December 8, 2014, from the Court of Madras. The Corporate Debtor acknowledged the debt and sought time for payment, but no payment was made. The Operational Creditor sent a communication on July 13, 2015, demanding the decretal amount, and the Corporate Debtor agreed to pay on July 28, 2015, with a condition to withdraw legal proceedings. The Operational Creditor filed an affidavit on June 16, 2017, stating that they had not received any notice of dispute or appeal
…The petitioner obtained…
The Operational…