The case involves a petition filed by Vijay Kumar Attri, an operational creditor, against Bamandanga Tea Estates Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor claimed a default amount of Rs. 1,12,99,733/-, including principal and interest, for the supply of agrochemical products. The corporate debtor argued that the claim was not maintainable due to time-barred debts and the application of Section 10A of the I&B Code, which prohibits the initiation of CIRP for defaults arising after March 25, 2020, due to the COVID-19 pandemic.
Vijay Kumar Attri, the operational creditor, supplied agrochemical products to Bamandanga Tea Estates Private Limited, the corporate debtor, since March 18, 2015. The operational creditor claimed that the corporate debtor defaulted on payments, with an outstanding amount of Rs. 1,12,99,733/- as of July 5, 2022, comprising Rs. 1,02,26,032/- as principal and Rs. 10,73,733/- as interest. A demand notice was served on October 18, 2022, and received by the corporate debtor on October 19, 2022, but no reply was issued. The corporate debtor argued that the claim included time-barred debts from the financial years 2015-16 to 2019-20 and that the products supplied were of substandard quality. The petition was filed on March 5, 2023, refiled on March 8, 2023, and registered on
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The operational…
The operational creditor claimed that the…
The case involves a petition filed by Vijay Kumar Attri, an operational creditor, against Bamandanga Tea Estates Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor claimed a default amount of Rs. 1,12,99,733/-, including principal and interest, for the supply of agrochemical products. The corporate debtor argued that the claim was not maintainable due to time-barred debts and the application of Section 10A of the I&B Code, which prohibits the initiation of CIRP for defaults arising after March 25, 2020, due to the COVID-19 pandemic.
Vijay Kumar Attri, the operational creditor, supplied agrochemical products to Bamandanga Tea Estates Private Limited, the corporate debtor, since March 18, 2015. The operational creditor claimed that the corporate debtor defaulted on payments, with an outstanding amount of Rs. 1,12,99,733/- as of July 5, 2022, comprising Rs. 1,02,26,032/- as principal and Rs. 10,73,733/- as interest. A demand notice was served on October 18, 2022, and received by the corporate debtor on October 19, 2022, but no reply was issued. The corporate debtor argued that the claim included time-barred debts from the financial years 2015-16 to 2019-20 and that the products supplied were of substandard quality. The petition was filed on March 5, 2023, refiled on March 8, 2023, and registered on
…The operational…
The operational creditor claimed that the…