The case involves an application (IA(IBC)/1447(CHE)/2022) filed by M/s. Pathy Enterprises under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking rectification of an arithmetic error in an order dated 04.11.2022 in IBA 130/2021. The main application (CP(IB)/130(CHE)/2021) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Ohm Srinivasa Paper Boards Private Limited, was previously dismissed by the Tribunal on 04.11.2022 due to the applicant not meeting the statutory threshold.
M/s. Pathy Enterprises filed an application (IA(IBC)/1447(CHE)/2022) seeking rectification of an arithmetic error in a previous order (dated 04.11.2022) related to IBA 130/2021. The original application (CP(IB)/130(CHE)/2021) under Section 9 of the IBC, 2016, aimed to initiate CIRP against M/s. Ohm Srinivasa Paper Boards Private Limited. The Tribunal had dismissed the original application because the applicant, M/s. Pathy Enterprises, did not meet the statutory threshold of Rs. 1,00,00,000/-. The applicant now claims a 'calculation mistake' in the MoU, which was the basis for the original application. The debt as on 28.12.2019 as per MoU was Rs. 71,00,000/-, the value of supply made post the agreement was Rs. 30,40,000/-, making the sub-total Rs. 1,01,40,000/-. Payment
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Main application filed under Section 9 of IBC,…
The Tribunal dismissed the main application…
The case involves an application (IA(IBC)/1447(CHE)/2022) filed by M/s. Pathy Enterprises under Rule 11 of the National Company Law Tribunal Rules, 2016, seeking rectification of an arithmetic error in an order dated 04.11.2022 in IBA 130/2021. The main application (CP(IB)/130(CHE)/2021) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M/s. Ohm Srinivasa Paper Boards Private Limited, was previously dismissed by the Tribunal on 04.11.2022 due to the applicant not meeting the statutory threshold.
M/s. Pathy Enterprises filed an application (IA(IBC)/1447(CHE)/2022) seeking rectification of an arithmetic error in a previous order (dated 04.11.2022) related to IBA 130/2021. The original application (CP(IB)/130(CHE)/2021) under Section 9 of the IBC, 2016, aimed to initiate CIRP against M/s. Ohm Srinivasa Paper Boards Private Limited. The Tribunal had dismissed the original application because the applicant, M/s. Pathy Enterprises, did not meet the statutory threshold of Rs. 1,00,00,000/-. The applicant now claims a 'calculation mistake' in the MoU, which was the basis for the original application. The debt as on 28.12.2019 as per MoU was Rs. 71,00,000/-, the value of supply made post the agreement was Rs. 30,40,000/-, making the sub-total Rs. 1,01,40,000/-. Payment
…Main application filed under Section 9 of IBC,…
The Tribunal dismissed the main application…