The case involves an application (IA (IB)/159/2020) filed under Section 17, 18, 20, 25(2)(b) read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the respondent to pay the outstanding balance to the Corporate Debtor for supplies made. The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.10.2019, and the applicant was appointed as the Insolvency Resolution Professional (IRP). The suspended director of the Corporate Debtor filed an appeal before the NCLAT, which is pending disposal.
M/s. Unique Roof Private Limited (Corporate Debtor) supplied steel building design and manufacturing services to Elmech Engineering Company (Respondent). The last invoice date was 07.04.2015. The total invoice amount was ₹57,29,075/-, of which ₹53,82,580/- was paid. A balance of ₹3,46,495/- remained due. The Resolution Professional (Muthuiah Thevar Rajapandian) filed an application (IA (IB)/159/2020) seeking payment of ₹6,48,085/- (including interest). The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.10.2019. The Respondent claimed that summons was not properly served and they were unaware of the hearing. The Tribunal considered the applicability of the Limitation Act and dismissed the application, finding the claim to be time-barred.
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The last invoice issued…
Corporate Insolvency Resolution Process…
The case involves an application (IA (IB)/159/2020) filed under Section 17, 18, 20, 25(2)(b) read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the respondent to pay the outstanding balance to the Corporate Debtor for supplies made. The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.10.2019, and the applicant was appointed as the Insolvency Resolution Professional (IRP). The suspended director of the Corporate Debtor filed an appeal before the NCLAT, which is pending disposal.
M/s. Unique Roof Private Limited (Corporate Debtor) supplied steel building design and manufacturing services to Elmech Engineering Company (Respondent). The last invoice date was 07.04.2015. The total invoice amount was ₹57,29,075/-, of which ₹53,82,580/- was paid. A balance of ₹3,46,495/- remained due. The Resolution Professional (Muthuiah Thevar Rajapandian) filed an application (IA (IB)/159/2020) seeking payment of ₹6,48,085/- (including interest). The Corporate Insolvency Resolution Process (CIRP) was initiated on 04.10.2019. The Respondent claimed that summons was not properly served and they were unaware of the hearing. The Tribunal considered the applicability of the Limitation Act and dismissed the application, finding the claim to be time-barred.
The last invoice issued…
Corporate Insolvency Resolution Process…