The case involves MA/181/2018 in CA/61/2018 in CP/510/IB/2017 filed under Section 42 of the Insolvency and Bankruptcy Code, 2016. The Applicant/Operational Creditor, The Great Indian Linen And Textile Infrastructure Company Pvt. Ltd., filed a claim against the Liquidator, Mr. Raghavendran, for an amount of Rs. 1,44,60,000/- with interest @ 18% p.a., totaling Rs.2,73,78,977/-. The claim was initially filed before the Resolution Professional but was rejected. The Liquidator also rejected the claim, stating it was time-barred.
The Great Indian Linen And Textile Infrastructure Company Pvt. Ltd. (Applicant/Operational Creditor) filed a claim for Rs. 1,44,60,000/- with 18% interest, totaling Rs. 2,73,78,977/-, against Veesons Energy Systems Pvt. Ltd. (Corporate Debtor). This claim was initially rejected by the Resolution Professional and subsequently by the Liquidator, Mr. Raghavendran. The amount was given as a mobilization advance on 2009-06-10 for manufacturing equipment, which the Corporate Debtor failed to do. The Applicant filed MA/181/2018 to overturn the Liquidator's rejection. The Liquidator argued the claim was time-barred, citing a communication dated 2018-05-17. The Corporate Debtor had previously filed a counter-claim in a winding-up petition, stating the Applicant owed them Rs.
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Rs. 1,44,60,000/- given as mobilization advance…
Adjudicating Authority ordered for initiation…
The case involves MA/181/2018 in CA/61/2018 in CP/510/IB/2017 filed under Section 42 of the Insolvency and Bankruptcy Code, 2016. The Applicant/Operational Creditor, The Great Indian Linen And Textile Infrastructure Company Pvt. Ltd., filed a claim against the Liquidator, Mr. Raghavendran, for an amount of Rs. 1,44,60,000/- with interest @ 18% p.a., totaling Rs.2,73,78,977/-. The claim was initially filed before the Resolution Professional but was rejected. The Liquidator also rejected the claim, stating it was time-barred.
The Great Indian Linen And Textile Infrastructure Company Pvt. Ltd. (Applicant/Operational Creditor) filed a claim for Rs. 1,44,60,000/- with 18% interest, totaling Rs. 2,73,78,977/-, against Veesons Energy Systems Pvt. Ltd. (Corporate Debtor). This claim was initially rejected by the Resolution Professional and subsequently by the Liquidator, Mr. Raghavendran. The amount was given as a mobilization advance on 2009-06-10 for manufacturing equipment, which the Corporate Debtor failed to do. The Applicant filed MA/181/2018 to overturn the Liquidator's rejection. The Liquidator argued the claim was time-barred, citing a communication dated 2018-05-17. The Corporate Debtor had previously filed a counter-claim in a winding-up petition, stating the Applicant owed them Rs.
…Rs. 1,44,60,000/- given as mobilization advance…
Adjudicating Authority ordered for initiation…