The case involves an application filed by the Liquidator of Khaitan Electricals Limited, the Corporate Debtor, against HMM Shipping India Private Limited (Respondent No. 1, the Shipping Company) and Continental Warehousing Corporation (NS) Limited (Respondent No. 2, the Warehousing Company). The Liquidator sought a direction from the NCLT to release a consignment of copper wire rods imported in 2011, which was discovered in the records of the Corporate Debtor and found to be lying at the Container Freight Station (CRS) of Respondent No. 2. The Corporate Debtor was admitted into CIRP on 2018-11-28 and subsequently approved for liquidation on 2019-08-23, with the Applicant appointed as Liquidator.
The Liquidator of Khaitan Electricals Limited filed an application seeking the release of a consignment of copper wire rods imported in 2011. The Corporate Debtor was admitted into CIRP on 2018-11-28 and subsequently approved for liquidation on 2019-08-23. The Liquidator discovered a photocopy of a Letter of Credit (LC) in the Corporate Debtor's records, indicating the import of '25 TONS OF CONTINUOUS CAST COPPER WIRE ROD IN COIL FORM'. The LC mentioned Khaitan Electrical Ltd as the Applicant and Synergic Industrial Materials and Services Pte Ltd of Singapore as the Beneficiary. The Liquidator obtained copies of the Bill of Lading and a statement of payment of Custom Duty. The consignment, containing 25,385 kgs of copper wire rod, was lying at the Container Freight
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Consignment of copper…
Letter of Credit issued with Khaitan Electrical…
The case involves an application filed by the Liquidator of Khaitan Electricals Limited, the Corporate Debtor, against HMM Shipping India Private Limited (Respondent No. 1, the Shipping Company) and Continental Warehousing Corporation (NS) Limited (Respondent No. 2, the Warehousing Company). The Liquidator sought a direction from the NCLT to release a consignment of copper wire rods imported in 2011, which was discovered in the records of the Corporate Debtor and found to be lying at the Container Freight Station (CRS) of Respondent No. 2. The Corporate Debtor was admitted into CIRP on 2018-11-28 and subsequently approved for liquidation on 2019-08-23, with the Applicant appointed as Liquidator.
The Liquidator of Khaitan Electricals Limited filed an application seeking the release of a consignment of copper wire rods imported in 2011. The Corporate Debtor was admitted into CIRP on 2018-11-28 and subsequently approved for liquidation on 2019-08-23. The Liquidator discovered a photocopy of a Letter of Credit (LC) in the Corporate Debtor's records, indicating the import of '25 TONS OF CONTINUOUS CAST COPPER WIRE ROD IN COIL FORM'. The LC mentioned Khaitan Electrical Ltd as the Applicant and Synergic Industrial Materials and Services Pte Ltd of Singapore as the Beneficiary. The Liquidator obtained copies of the Bill of Lading and a statement of payment of Custom Duty. The consignment, containing 25,385 kgs of copper wire rod, was lying at the Container Freight
…Consignment of copper…
Letter of Credit issued with Khaitan Electrical…