The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Kasa Anlagen India Private Limited (Operational Creditor) against Mcchem-Anlage Energies & Infratech Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The matter was initially filed for winding up under Section 433 of the Companies Act, 1956 before the Hon'ble High Court of Chhattisgarh, then transferred to NCLT Mumbai Bench, and subsequently to NCLT Cuttack Bench. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied Electrical and VFD Panels, with an outstanding amount of Rs. 1,22,73,066/- as of September 18, 2013, plus interest.
Kasa Anlagen India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mcchem-Anlage Energies & Infratech Private Limited (Corporate Debtor). The Operational Creditor supplied Electrical and VFD Panels to the Corporate Debtor based on purchase orders. As of September 18, 2013, an amount of Rs. 1,22,73,066/- was outstanding, plus interest at 15% p.a. from April 2013. The Corporate Debtor never raised any dispute about the quality or quantity of the goods supplied. The outstanding dues are recorded in the Corporate Debtor's balance sheets up to 2017-18. The Operational Creditor is a minority shareholder (27%) of the Corporate Debtor, while Mr. Sudhir Jha and his wife hold 73% shares. The
…Sign in to view the parties.
Reference to the Companies Act, 1956,…
Interest on the…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Kasa Anlagen India Private Limited (Operational Creditor) against Mcchem-Anlage Energies & Infratech Private Limited (Corporate Debtor) for initiation of Corporate Insolvency Resolution Process (CIRP). The matter was initially filed for winding up under Section 433 of the Companies Act, 1956 before the Hon'ble High Court of Chhattisgarh, then transferred to NCLT Mumbai Bench, and subsequently to NCLT Cuttack Bench. The Operational Creditor claimed that the Corporate Debtor defaulted on payments for supplied Electrical and VFD Panels, with an outstanding amount of Rs. 1,22,73,066/- as of September 18, 2013, plus interest.
Kasa Anlagen India Private Limited (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Mcchem-Anlage Energies & Infratech Private Limited (Corporate Debtor). The Operational Creditor supplied Electrical and VFD Panels to the Corporate Debtor based on purchase orders. As of September 18, 2013, an amount of Rs. 1,22,73,066/- was outstanding, plus interest at 15% p.a. from April 2013. The Corporate Debtor never raised any dispute about the quality or quantity of the goods supplied. The outstanding dues are recorded in the Corporate Debtor's balance sheets up to 2017-18. The Operational Creditor is a minority shareholder (27%) of the Corporate Debtor, while Mr. Sudhir Jha and his wife hold 73% shares. The
…Reference to the Companies Act, 1956,…
Interest on the…