The case involves a company petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by an Operational Creditor, M/s. Trains Asian Shipping Services Private Limited, against the Corporate Debtor, M/s. Pota Global Logistics (India) Private Limited, for defaulting on a bill amount of ₹24,75,436 (AED1,40,295) along with 18% interest. The debt arose from detention and delivery order charges reflected in a final bill dated 27.07.2015. The creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the debtor. The debtor's defense included arguments regarding jurisdiction, limitation, and the creditor's qualification as an operational creditor.
M/s. Trains Asian Shipping Services Private Limited (the creditor) filed a company petition against M/s. Pota Global Logistics (India) Private Limited (the debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming a default of ₹24,75,436 (AED1,40,295) plus 18% interest. This amount represents detention and delivery order charges. The creditor is in the business of carrier of goods, freight containers, steamer agency, freight forwarding, clearing agency, and operating ships. The debtor booked a consignment with Booking No. 532430 for carrying 160 bales of cotton hand-woven chindhi rugs from Tuticorn to Jebel Ali, Dubai. The creditor issued Bill of Lading TALTST01691257 on 17.10.2013. The consignment reached Jebel Ali on 27.10.2013. The consignee,
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The case involves a company petition filed under Section 9 of the Insolvency & Bankruptcy Code, 2016 by an Operational Creditor, M/s. Trains Asian Shipping Services Private Limited, against the Corporate Debtor, M/s. Pota Global Logistics (India) Private Limited, for defaulting on a bill amount of ₹24,75,436 (AED1,40,295) along with 18% interest. The debt arose from detention and delivery order charges reflected in a final bill dated 27.07.2015. The creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) against the debtor. The debtor's defense included arguments regarding jurisdiction, limitation, and the creditor's qualification as an operational creditor.
M/s. Trains Asian Shipping Services Private Limited (the creditor) filed a company petition against M/s. Pota Global Logistics (India) Private Limited (the debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming a default of ₹24,75,436 (AED1,40,295) plus 18% interest. This amount represents detention and delivery order charges. The creditor is in the business of carrier of goods, freight containers, steamer agency, freight forwarding, clearing agency, and operating ships. The debtor booked a consignment with Booking No. 532430 for carrying 160 bales of cotton hand-woven chindhi rugs from Tuticorn to Jebel Ali, Dubai. The creditor issued Bill of Lading TALTST01691257 on 17.10.2013. The consignment reached Jebel Ali on 27.10.2013. The consignee,
…Creditor issued…
Consignment reached the…