The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by the Resolution Professional cum Liquidator of Steel Konnect (India) Pvt. Ltd. (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against MBC Agro Industries LLP (Corporate Debtor). The Operational Creditor claimed an outstanding sum of Rs. 31,41,90,779. The application was filed on 29.05.2018, with the period of supplies and invoices ranging from 28.08.2015 to 31.03.2016. The Corporate Debtor contested the application, citing pre-existing disputes and suppression of material facts.
Steel Konnect (India) Pvt. Ltd., acting as the Operational Creditor, filed an application under Section 9 of the IBC, 2016, to initiate CIRP against MBC Agro Industries LLP, the Corporate Debtor, claiming an outstanding debt of Rs. 31,41,90,779. The application was filed on 29.05.2018, with the debt arising from supplies and invoices between 28.08.2015 and 31.03.2016. The Corporate Debtor argued that there were pre-existing disputes regarding the work contract and invoices, citing letters and emails exchanged between the parties. They also claimed that the Operational Creditor suppressed the fact that they had replied to the Demand Notice. The Operational Creditor countered that the Corporate Debtor failed to respond to their communications during the CIRP and that the
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The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by the Resolution Professional cum Liquidator of Steel Konnect (India) Pvt. Ltd. (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against MBC Agro Industries LLP (Corporate Debtor). The Operational Creditor claimed an outstanding sum of Rs. 31,41,90,779. The application was filed on 29.05.2018, with the period of supplies and invoices ranging from 28.08.2015 to 31.03.2016. The Corporate Debtor contested the application, citing pre-existing disputes and suppression of material facts.
Steel Konnect (India) Pvt. Ltd., acting as the Operational Creditor, filed an application under Section 9 of the IBC, 2016, to initiate CIRP against MBC Agro Industries LLP, the Corporate Debtor, claiming an outstanding debt of Rs. 31,41,90,779. The application was filed on 29.05.2018, with the debt arising from supplies and invoices between 28.08.2015 and 31.03.2016. The Corporate Debtor argued that there were pre-existing disputes regarding the work contract and invoices, citing letters and emails exchanged between the parties. They also claimed that the Operational Creditor suppressed the fact that they had replied to the Demand Notice. The Operational Creditor countered that the Corporate Debtor failed to respond to their communications during the CIRP and that the
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