The case originates from a petition filed in the Hon'ble High Court under the Companies Act, 1956, seeking recovery of an outstanding debt of ₹1,36,68,000. The petition was later transferred to the NCLT, Mumbai, following the implementation of the Insolvency and Bankruptcy Code, 2016. The petitioner, a sole proprietor of M/s. M. Tex-Chem, claims to have supplied chemicals and pigments to the respondent debtor, Maharaja Dyeing Private Limited. The respondent raised objections regarding the maintainability of the petition before the NCLT, arguing that the matter was already sub judice before the High Court and that the petition was defective due to incomplete details and non-issuance of a demand notice. The petitioner contended that the debt was admitted by the
…Mr. Nimish S. Mehta, proprietor of M/s. M. Tex-Chem, filed a petition against Maharaja Dyeing Private Limited for an outstanding debt of ₹1,36,68,000. The petition was initially filed in the Hon'ble High Court under the Companies Act, 1956, and later transferred to the NCLT, Mumbai, following the implementation of the Insolvency and Bankruptcy Code, 2016. M. Tex-Chem claims to have supplied chemicals and pigments to Maharaja Dyeing Private Limited. The respondent, Maharaja Dyeing Private Limited, raised objections regarding the maintainability of the petition, arguing that the matter was already sub judice before the High Court and that the petition was defective. The respondent also claimed that the petition was served before the transfer rules came into effect. The
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The case originates from a petition filed in the Hon'ble High Court under the Companies Act, 1956, seeking recovery of an outstanding debt of ₹1,36,68,000. The petition was later transferred to the NCLT, Mumbai, following the implementation of the Insolvency and Bankruptcy Code, 2016. The petitioner, a sole proprietor of M/s. M. Tex-Chem, claims to have supplied chemicals and pigments to the respondent debtor, Maharaja Dyeing Private Limited. The respondent raised objections regarding the maintainability of the petition before the NCLT, arguing that the matter was already sub judice before the High Court and that the petition was defective due to incomplete details and non-issuance of a demand notice. The petitioner contended that the debt was admitted by the
…Mr. Nimish S. Mehta, proprietor of M/s. M. Tex-Chem, filed a petition against Maharaja Dyeing Private Limited for an outstanding debt of ₹1,36,68,000. The petition was initially filed in the Hon'ble High Court under the Companies Act, 1956, and later transferred to the NCLT, Mumbai, following the implementation of the Insolvency and Bankruptcy Code, 2016. M. Tex-Chem claims to have supplied chemicals and pigments to Maharaja Dyeing Private Limited. The respondent, Maharaja Dyeing Private Limited, raised objections regarding the maintainability of the petition, arguing that the matter was already sub judice before the High Court and that the petition was defective. The respondent also claimed that the petition was served before the transfer rules came into effect. The
…The old Petition was…
Petition came up for…