This case involves an Interlocutory Application (IA (I.B.C) No. 1116/MB/2024) filed by Skoda Auto Volkswagen India Private Limited (Applicant/Corporate Debtor) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking rejection of CP(IB) No. 1107/MB/2023 (Main Application) filed by Susee Automotive Private Limited (Respondent/Operational Creditor). The Respondent/OC sought initiation of Corporate Insolvency Resolution Process (CIRP) against the Applicant/CD based on an alleged default of Rs. 4,52,15,921/-, comprising principal and interest calculated under the MSMED Act. The Applicant/CD contested the application, arguing that the claims were barred by limitation, did not meet the threshold limit under Section 4 of the IBC, and that the interest claims
…Skoda Auto Volkswagen India Private Limited (Applicant/Corporate Debtor) and Susee Automotive Private Limited (Respondent/Operational Creditor) had dealership agreements in place for Tirunelveli and Tiruchirappalli Districts in Tamil Nadu from 2013 to 2021. The Respondent/OC claimed that the Applicant/CD failed to make payments against invoices and various discounts, resulting in an outstanding amount of Rs. 97,41,134.39/-. The Respondent/OC issued a demand notice dated 14.12.2021 under Section 8 of the IBC for payment of Rs. 4,52,15,921/-, including interest as per Section 16 of the MSMED Act. The Applicant/CD denied liabilities, citing limitation and non-compliance with Section 4 of the IBC. The Respondent/OC filed the Main Application on 09.04.2022. The Applicant/CD
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Dealership Agreements between Skoda Auto…
Susee Automotive Private Limited issued a…
This case involves an Interlocutory Application (IA (I.B.C) No. 1116/MB/2024) filed by Skoda Auto Volkswagen India Private Limited (Applicant/Corporate Debtor) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking rejection of CP(IB) No. 1107/MB/2023 (Main Application) filed by Susee Automotive Private Limited (Respondent/Operational Creditor). The Respondent/OC sought initiation of Corporate Insolvency Resolution Process (CIRP) against the Applicant/CD based on an alleged default of Rs. 4,52,15,921/-, comprising principal and interest calculated under the MSMED Act. The Applicant/CD contested the application, arguing that the claims were barred by limitation, did not meet the threshold limit under Section 4 of the IBC, and that the interest claims
…Skoda Auto Volkswagen India Private Limited (Applicant/Corporate Debtor) and Susee Automotive Private Limited (Respondent/Operational Creditor) had dealership agreements in place for Tirunelveli and Tiruchirappalli Districts in Tamil Nadu from 2013 to 2021. The Respondent/OC claimed that the Applicant/CD failed to make payments against invoices and various discounts, resulting in an outstanding amount of Rs. 97,41,134.39/-. The Respondent/OC issued a demand notice dated 14.12.2021 under Section 8 of the IBC for payment of Rs. 4,52,15,921/-, including interest as per Section 16 of the MSMED Act. The Applicant/CD denied liabilities, citing limitation and non-compliance with Section 4 of the IBC. The Respondent/OC filed the Main Application on 09.04.2022. The Applicant/CD
…Dealership Agreements between Skoda Auto…
Susee Automotive Private Limited issued a…