Vishal Carrier, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Anupam Industries Limited, the corporate debtor. The application was based on an arbitral award obtained by Vishal Carrier for unpaid transportation services. The corporate debtor contested the application, raising objections regarding the validity of the arbitral award and the applicant's registration under the MSMED Act. The NCLT Ahmedabad heard the submissions and perused the documents on record.
Vishal Carrier, a proprietorship concern engaged in transportation business, provided transportation services to Anupam Industries Limited, a limited company engaged in manufacturing machinery. Anupam Industries Limited allegedly failed to pay the outstanding dues of Rs. 25,27,992/- despite repeated reminders. Vishal Carrier approached the State Level Facilitation Council under Section 18(1) of the MSMED Act, 2006. The conciliation efforts failed, and the matter was referred to the Gujarat Chamber of Commerce & Industry for arbitration. The Sole Arbitrator passed an award dated 03.05.2019, allowing the claim of the applicant for Rs. 74,36,842.27. Vishal Carrier issued a demand notice in form 3 dated 10.10.2019 under Section 8 of the Insolvency and Bankruptcy Code,
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Anupam Industries…
Corporate debt…
Vishal Carrier, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Anupam Industries Limited, the corporate debtor. The application was based on an arbitral award obtained by Vishal Carrier for unpaid transportation services. The corporate debtor contested the application, raising objections regarding the validity of the arbitral award and the applicant's registration under the MSMED Act. The NCLT Ahmedabad heard the submissions and perused the documents on record.
Vishal Carrier, a proprietorship concern engaged in transportation business, provided transportation services to Anupam Industries Limited, a limited company engaged in manufacturing machinery. Anupam Industries Limited allegedly failed to pay the outstanding dues of Rs. 25,27,992/- despite repeated reminders. Vishal Carrier approached the State Level Facilitation Council under Section 18(1) of the MSMED Act, 2006. The conciliation efforts failed, and the matter was referred to the Gujarat Chamber of Commerce & Industry for arbitration. The Sole Arbitrator passed an award dated 03.05.2019, allowing the claim of the applicant for Rs. 74,36,842.27. Vishal Carrier issued a demand notice in form 3 dated 10.10.2019 under Section 8 of the Insolvency and Bankruptcy Code,
…Anupam Industries…
Corporate debt…